Except as provided in subsection (c) of this section, 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.
(b) 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.
(c) Certain examinations authorized
Nothing 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 section
1820(b)(4) of this title, 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.
For purposes of this section, the following definitions shall apply:
(1) Bank holding company
The term “bank holding company” has the meaning given the term in section
1841 of this title.
The term “Commission” means the Securities and Exchange Commission.
The term “Corporation” means the Federal Deposit Insurance Corporation.
(4) Federal banking agency
The term “Federal banking agency” has the meaning given the term in section
1813(z) of this title.
(5) Insured depository institution
The term “insured depository institution” has the meaning given the term in section
1813(c) of this title.
(6) Registered investment company
The term “registered investment company” means an investment company that is registered with the Commission under the Investment Company Act of 1940 [15 U.S.C. 80a–1 et seq.].
(7) Savings and loan holding company
The term “savings and loan holding company” has the meaning given the term in section
1467a(a)(1)(D) of this title.
The Investment Company Act of 1940, referred to in subsec. (d)(6), is title I of act Aug. 22, 1940, ch. 686, 54 Stat. 789, as amended, 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 section
80a–51 of Title
15 and Tables.
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.
Section effective 120 days after Nov. 12, 1999, see section 161 ofPub. L. 106–102, set out as an Effective Date of 1999 Amendment note under section
24 of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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