Exclusive Commission authority
Except as provided in subsection (c), a Federal banking agency may not inspect or examine any registered investment company that is not a bank holding company or a savings and loan holding company.
Examination results and other information
The Commission shall provide to any Federal banking agency, upon request, the results of any examination, reports, records, or other information with respect to any registered investment company to the extent necessary for the agency to carry out its statutory responsibilities.
Certain examinations authorized
section 1820(b)(4) of this titleNothing in this section shall prevent the Corporation, if the Corporation finds it necessary to determine the condition of an insured depository institution for insurance purposes, from examining an affiliate of any insured depository institution, pursuant to its authority under , as may be necessary to disclose fully the relationship between the insured depository institution and the affiliate, and the effect of such relationship on the insured depository institution.
Definitions
Bank holding company
section 1841 of this titleThe term “bank holding company” has the meaning given the term in .
Commission
The term “Commission” means the Securities and Exchange Commission.
Corporation
The term “Corporation” means the Federal Deposit Insurance Corporation.
Federal banking agency
section 1813(z) of this titleThe term “Federal banking agency” has the meaning given the term in .
Insured depository institution
section 1813(c) of this titleThe term “insured depository institution” has the meaning given the term in .
Registered investment company
15 U.S.C. 80a–1The term “registered investment company” means an investment company that is registered with the Commission under the Investment Company Act of 1940 [ et seq.].
Savings and loan holding company
section 1467a(a)(1)(D) of this titleThe term “savings and loan holding company” has the meaning given the term in .
Pub. L. 106–102, title I, § 115113 Stat. 1371(, , .)
Editorial Notes
References in Text
act Aug. 22, 1940, ch. 68654 Stat. 789section 80a–51 of Title 15The Investment Company Act of 1940, referred to in subsec. (d)(6), is title I of , , which is classified generally to subchapter I (§ 80a–1 et seq.) of chapter 2D of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see and Tables.
Codification
Section was enacted as part of the Gramm-Leach-Bliley Act, and not as part of the Federal Deposit Insurance Act which comprises this chapter.
Statutory Notes and Related Subsidiaries
Effective Date
section 161 of Pub. L. 106–102section 24 of this titleSection effective 120 days after , see , set out as an Effective Date of 1999 Amendment note under .