12 U.S. Code § 1820a - Examination of investment companies
(a) Exclusive Commission authority
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.
(4) Federal banking agency
(5) Insured depository institution
(6) Registered investment company
Source(Pub. L. 106–102, title I, § 115,Nov. 12, 1999, 113 Stat. 1371.)
References in Text
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.
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