Collective Investment Funds: Hearings Before the Subcommittee on Commerce and Finance ... Eighty-eighth Congress, Second Session, on H.R. 8499, H.R. 9410, Bills to Amend the Securities Act of 1933, as Amended, the Securities Exchange Act of 1934, as Amended, and the Investment Company Act of 1940, as Amended, to Prvide for the Regulation of Collective Investment Funds Maintained by Banks, and for Other Purposes. June 9-11, 1964U.S. Government Printing Office, 1965 - 127 páginas Considers legislation to transfer SEC regulatory authority over bank-managed common trust funds to Office of Comptroller of Currency. |
Términos y frases comunes
amended American Bankers Association amount authority bank administering bank collective funds bank collective investment bank supervisory agencies bank trust departments bill billion Board of Governors BUEK Chairman HARRIS collective investment funds commercial banks common trust funds Comptroller CONGRESS THE LIBRARY corporate Currency CURTIN deposits employee benefit accounts estimate Exchange Commission executor exempt Fascell Federal Reserve Board Federal Reserve System Federal securities laws FERGUSON GLENN HAACK income insured interest Internal Revenue Code Investment Company Act investment funds maintained investment responsibility investors jurisdiction legislation LIBRARY OF CONGRESS maintained by banks managing agency accounts ment Mortgage Investment Fund mutual fund national banks operated OREN HARRIS paragraph participation pension percent permit personal trust question regulation 9 regulatory SAXON Securities Act Securities and Exchange September 28 Smathers-Keogh STAGGERS statement subcommittee supervision tion trust accounts trust assets trust department assets trust investment committee valuation date
Pasajes populares
Página 53 - Currency shall be authorized and empowered to grant by special permit to national banks applying therefor, when not in contravention of State or local law, the right to act as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics, or in any other fiduciary capacity...
Página 2 - USC 352) is further amended by changing the period at the end thereof to a comma, and adding the following: "or for subsistence uses in areas added to the park by the Alaska Conservation Act of 1971* pursuant to section 108 of that Act.".
Página 53 - Whenever the laws of such State authorize or permit the exercise of any or all of the foregoing powers by State banks, trust companies, or other corporations which compete with national banks, the granting to and the exercise of such powers by national banks shall not be deemed to be in contravention of State or local law within the meaning of this Act.
Página 8 - N-5, form for registration of small business investment company under the Securities Act of 1933 and the Investment Company Act of 1940.
Página 2 - The Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation...
Página 65 - Board of Governors of the Federal Reserve System or the Comptroller of the Currency pertaining to the collective investment of trust funds by national banks.
Página 54 - In passing upon applications for permission to exercise the powers enumerated in this subsection, the Federal Reserve Board may take into consideration the amount of capital and surplus of the applying bank, whether or not such capital and surplus is sufficient under the circumstances of the case, the needs of the community to be served, and any other facts and circumstances that seem to it proper, and may grant or refuse the application accordingly...
Página 54 - ... such capital and surplus is sufficient under the circumstances of the case, the needs of the community to be served, and any other facts and circumstances that seem to it proper, and may grant or refuse the application accordingly: Provided, That no permit shall be issued to any national banking association having a capital and surplus less than the capital and surplus required by State law of State banks, trust companies, and corporations exercising such powers.
Página 56 - common trust fund" means a fund maintained by a bank (as defined in section 104) — (1) exclusively for the collective investment and reinvestment of moneys contributed thereto by the bank in its capacity as a trustee, executor, administrator, or guardian; and (2) in conformity with the rules and regulations, prevailing from time to time, of the Board of Governors of the Federal Reserve System pertaining to the collective investment of trust funds by national banks.
Página 4 - N-5, which was set up, was designed to simplify the procedure for registration under both the Investment Company Act of 1940 and the Securities Act of 1933.