美国多德—弗兰克华尔街改革与消费者保护法

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SECTION 1.〓SHORT TITLE;TABLE OF CONTENTS. 2

SEC. 2.〓DEFINITIONS.2

SEC. 3.〓SEVERABILITY.10

SEC. 4.〓EFFECTIVE DATE.12

SEC. 5.〓BUDGETARY EFFECTS.12

SEC. 6.〓ANTITRUST SAVINGS CLAUSE.12

TITLE I—FINANCIAL STABILITY14

SEC. 101.〓SHORT TITLE.14

SEC. 102.〓DEFINITIONS.14

Subtitle A—Financial Stability Oversight Council18

SEC. 111.〓FINANCIAL STABILITY OVERSIGHT COUNCIL ESTABLISHED.18

SEC. 112.〓COUNCIL AUTHORITY.22

SEC. 113.〓AUTHORITY TO REQUIRE SUPERVISION AND REGULATION OF

CERTAIN NONBANK FINANCIAL COMPANIES.30

SEC. 114.〓REGISTRATION OF NONBANK FINANCIAL COMPANIES

SUPERVISED BY THE BOARD OF GOVERNORS.40

SEC. 115.〓ENHANCED SUPERVISION AND PRUDENTIAL STANDARDS FOR

NONBANK FINANCIAL COMPANIES SUPERVISED BY THE BOARD

OF GOVERNORS AND CERTAIN BANK HOLDING COMPANIES.40

SEC. 116.〓REPORTS.48

SEC. 117.〓TREATMENT OF CERTAIN COMPANIES THAT CEASE TO BE

BANK HOLDING COMPANIES.48

SEC. 118.〓COUNCIL FUNDING.52

SEC. 119.〓RESOLUTION OF SUPERVISORY JURISDICTIONAL DISPUTES

AMONG MEMBER AGENCIES.52

SEC. 120.〓ADDITIONAL STANDARDS APPLICABLE TO ACTIVITIES OR

PRACTICES FOR FINANCIAL STABILITY PURPOSES.54

SEC. 121.〓MITIGATION OF RISKS TO FINANCIAL STABILITY.56

SEC. 122.〓GAO AUDIT OF COUNCIL.60

SEC. 123.〓STUDY OF THE EFFECTS OF SIZE AND COMPLEXITY OF

FINANCIAL INSTITUTIONS ON CAPITAL MARKET EFFICIENCY

AND ECONOMIC GROWTH.60

Subtitle B—Office of Financial Research62

SEC. 151.〓DEFINITIONS.62

SEC. 152.〓OFFICE OF FINANCIAL RESEARCH ESTABLISHED.64

SEC. 153.〓PURPOSE AND DUTIES OF THE OFFICE.68

SEC. 154.〓ORGANIZATIONAL STRUCTURE; RESPONSIBILITIES OF

PRIMARY PROGRAMMATIC UNITS.72

SEC. 155.〓FUNDING.76

SEC. 156.〓TRANSITION OVERSIGHT.78

Subtitle C—Additional Board of Governors Authority for Certain Nonbank

Financial Companies and Bank Holding Companies80

SEC. 161.〓REPORTS BY AND EXAMINATIONS OF NONBANK FINANCIAL

COMPANIES BY THE BOARD OF GOVERNORS.80

SEC. 162.〓ENFORCEMENT.84

SEC. 163.〓ACQUISITIONS.84

SEC. 164.〓PROHIBITION AGAINST MANAGEMENT INTERLOCKS BETWEEN

CERTAIN FINANCIAL COMPANIES.86

SEC. 165.〓ENHANCED SUPERVISION AND PRUDENTIAL STANDARDS

FOR NONBANK FINANCIAL COMPANIES SUPERVISED BY

THE BOARD OF GOVERNORS AND CERTAIN BANK

HOLDING COMPANIES.88

SEC. 166.〓EARLY REMEDIATION REQUIREMENTS.108

SEC. 167.〓AFFILIATIONS.108

SEC. 168.〓REGULATIONS.112

SEC. 169.〓AVOIDING DUPLICATION.112

SEC. 170.〓SAFE HARBOR.114

SEC. 171.〓LEVERAGE AND RISK-BASED CAPITAL REQUIREMENTS.114

SEC. 172.〓EXAMINATION AND ENFORCEMENT ACTIONS FOR INSURANCE

AND ORDERLY LIQUIDATION PURPOSES.122

SEC. 173.〓ACCESS TO UNITED STATES FINANCIAL MARKET BY FOREIGN

INSTITUTIONS.124

SEC. 174.〓STUDIES AND REPORTS ON HOLDING COMPANY CAPITAL

REQUIREMENTS.126

SEC. 175.〓INTERNATIONAL POLICY COORDINATION.130

SEC. 176.〓RULE OF CONSTRUCTION.130

TITLE II—ORDERLY LIQUIDATION AUTHORITY132

SEC. 201.〓DEFINITIONS.132

SEC. 202.〓JUDICIAL REVIEW.136

SEC. 203.〓SYSTEMIC RISK DETERMINATION.148

SEC. 204.〓ORDERLY LIQUIDATION OF COVERED FINANCIAL COMPANIES.158

SEC. 205.〓ORDERLY LIQUIDATION OF COVERED BROKERS AND DEALERS.162

SEC. 206.〓MANDATORY TERMS AND CONDITIONS FOR ALL ORDERLY

LIQUIDATION ACTIONS.168

SEC. 207.〓DIRECTORS NOT LIABLE FOR ACQUIESCING IN APPOINTMENT

OF RECEIVER.168

SEC. 208.〓DISMISSAL AND EXCLUSION OF OTHER ACTIONS.168

SEC. 209.〓RULEMAKING;NON-CONFLICTING LAW.170

SEC. 210.〓POWERS AND DUTIES OF THE CORPORATION.170

SEC. 211.〓MISCELLANEOUS PROVISIONS.284

SEC. 212.〓PROHIBITION OF CIRCUMVENTION AND PREVENTION OF

CONFLICTS OF INTEREST.290

SEC. 213.〓BAN ON CERTAIN ACTIVITIES BY SENIOR EXECUTIVES AND

DIRECTORS.290

SEC. 214.〓PROHIBITION ON TAXPAYER FUNDING.292

SEC. 215.〓STUDY ON SECURED CREDITOR HAIRCUTS.294

SEC. 216.〓STUDY ON BANKRUPTCY PROCESS FOR FINANCIAL AND

NONBANK FINANCIAL INSTITUTIONS.294

SEC. 217.〓STUDY ON INTERNATIONAL COORDINATION RELATING TO

BANKRUPTCY PROCESS FOR NONBANK FINANCIAL

INSTITUTIONS.296

TITLE III—TRANSFER OF POWERS TO THE COMPTROLLER

OF THE CURRENCY,THE CORPORATION,AND

THE BOARD OF GOVERNORS298

SEC. 300.〓SHORT TITLE.298

SEC. 301.〓PURPOSES.298

SEC. 302.〓DEFINITION.298

Subtitle A—Transfer of Powers and Duties298

SEC. 311.〓TRANSFER DATE.298

SEC. 312.〓POWERS AND DUTIES TRANSFERRED.300

SEC. 313.〓ABOLISHMENT.304

SEC. 314.〓AMENDMENTS TO THE REVISED STATUTES.304

SEC. 315.〓FEDERAL INFORMATION POLICY.306

SEC. 316.〓SAVINGS PROVISIONS.306

SEC. 317.〓REFERENCES IN FEDERAL LAW TO FEDERAL BANKING

AGENCIES.312

SEC. 318.〓FUNDING.312

SEC. 319.〓CONTRACTING AND LEASING AUTHORITY.316

Subtitle B—Transitional Provisions316

SEC. 321.〓INTERIM USE OF FUNDS,PERSONNEL,AND PROPERTY OF

THE OFFICE OF THRIFT SUPERVISION.316

SEC. 322.〓TRANSFER OF EMPLOYEES.318

SEC. 323.〓PROPERTY TRANSFERRED.332

SEC. 324.〓FUNDS TRANSFERRED.334

SEC. 325.〓DISPOSITION OF AFFAIRS.334

SEC. 326.〓CONTINUATION OF SERVICES. 336

SEC. 327.〓IMPLEMENTATION PLAN AND REPORTS.336

Subtitle C—Federal Deposit Insurance Corporation338

SEC. 331.〓DEPOSIT INSURANCE REFORMS.338

SEC. 332.〓ELIMINATION OF PROCYCLICAL ASSESSMENTS.340

SEC. 333.〓ENHANCED ACCESS TO INFORMATION FOR DEPOSIT

INSURANCE PURPOSES.340

SEC. 334.〓TRANSITION RESERVE RATIO REQUIREMENTS TO REFLECT

NEW ASSESSMENT BASE.342

SEC. 335.〓PERMANENT INCREASE IN DEPOSIT AND SHARE INSURANCE.342

SEC. 336.〓MANAGEMENT OF THE FEDERAL DEPOSIT INSURANCE

CORPORATION.344

Subtitle D—Other Matters344

SEC. 341.〓BRANCHING.344

SEC. 342.〓OFFICE OF MINORITY AND WOMEN INCLUSION.346

SEC. 343.〓INSURANCE OF TRANSACTION ACCOUNTS.352

Subtitle E—Technical and Conforming Amendments358

SEC. 351.〓EFFECTIVE DATE.358

SEC. 352.〓BALANCED BUDGET AND EMERGENCY DEFICIT CONTROL

ACT OF 1985.358

SEC. 353.〓BANK ENTERPRISE ACT OF 1991.358

SEC. 354.〓BANK HOLDING COMPANY ACT OF 1956.358

SEC. 355.〓BANK HOLDING COMPANY ACT AMENDMENTS OF 1970.360

SEC. 356.〓BANK PROTECTION ACT OF 1968.360

SEC. 357.〓BANK SERVICE COMPANY ACT.362

SEC. 358.〓COMMUNITY REINVESTMENT ACT OF 1977.362

SEC. 359.〓CRIME CONTROL ACT OF 1990.362

SEC. 360.〓DEPOSITORY INSTITUTION MANAGEMENT INTERLOCKS ACT.364

SEC. 361.〓EMERGENCY HOMEOWNERS’ RELIEF ACT.366

SEC. 362.〓FEDERAL CREDIT UNION ACT.366

SEC. 363.〓FEDERAL DEPOSIT INSURANCE ACT.366

SEC. 364.〓FEDERAL HOME LOAN BANK ACT.378

SEC. 365.〓FEDERAL HOUSING ENTERPRISES FINANCIAL SAFETY AND

SOUNDNESS ACT OF 1992.378

SEC. 366.〓FEDERAL RESERVE ACT.380

SEC. 367.〓FINANCIAL INSTITUTIONS REFORM,RECOVERY,AND

ENFORCEMENT ACT OF 1989.380

SEC. 368.〓FLOOD DISASTER PROTECTION ACT OF 1973.382

SEC. 369.〓HOME OWNERS’ LOAN ACT.384

SEC. 370.〓HOUSING ACT OF 1948.400

SEC. 371.〓HOUSING AND COMMUNITY DEVELOPMENT ACT OF 1992.400

SEC. 372.〓HOUSING AND URBAN-RURAL RECOVERY ACT OF 1983.400

SEC. 373.〓NATIONAL HOUSING ACT.402

SEC. 374.〓NEIGHBORHOOD REINVESTMENT CORPORATION ACT.402

SEC. 375.〓PUBLIC LAW 93-100.402

SEC. 376.〓SECURITIES EXCHANGE ACT OF 1934.402

SEC. 377.〓TITLE 18,UNITED STATES CODE.408

SEC. 378.〓TITLE 31,UNITED STATES CODE.410

TITLE IV—REGULATION OF ADVISERS TO HEDGE FUNDS

AND OTHERS412

SEC. 401.〓SHORT TITLE.412

SEC. 402.〓DEFINITIONS.412

SEC. 403.〓ELIMINATION OF PRIVATE ADVISER EXEMPTION;LIMITED

EXEMPTION FOR FOREIGN PRIVATE ADVISERS;LIMITED

INTRASTATE EXEMPTION.414

SEC. 404.〓COLLECTION OF SYSTEMIC RISK DATA;REPORTS;

EXAMINATIONS;DISCLOSURES.416

SEC. 405.〓DISCLOSURE PROVISION AMENDMENT.420

SEC. 406.〓CLARIFICATION OF RULEMAKING AUTHORITY.420

SEC. 407.〓EXEMPTION OF AND REPORTING BY VENTURE CAPITAL

FUND ADVISERS.422

SEC. 408.〓EXEMPTION OF AND REPORTING BY CERTAIN PRIVATE

FUND ADVISERS.422

SEC. 409.〓FAMILY OFFICES.424

SEC. 410.〓STATE AND FEDERAL RESPONSIBILITIES;ASSET THRESHOLD

FOR FEDERAL REGISTRATION OF INVESTMENT ADVISERS.426

SEC. 411.〓CUSTODY OF CLIENT ASSETS.426

SEC. 412.〓COMPTROLLER GENERAL STUDY ON CUSTODY RULE COSTS.428

SEC. 413.〓ADJUSTING THE ACCREDITED INVESTOR STANDARD.428

SEC. 414.〓RULE OF CONSTRUCTION RELATING TO THE COMMODITIES

EXCHANGE ACT.430

SEC. 415.〓GAO STUDY AND REPORT ON ACCREDITED INVESTORS.430

SEC. 416.〓GAO STUDY ON SELF-REGULATORY ORGANIZATION FOR

PRIVATE FUNDS.430

SEC. 417.〓COMMISSION STUDY AND REPORT ON SHORT SELLING.432

SEC. 418.〓QUALIFIED CLIENT STANDARD.432

SEC. 419.〓TRANSITION PERIOD.432

TITLE V—INSURANCE436

Subtitle A—Federal Insurance Office436

SEC. 501.〓SHORT TITLE.436

SEC. 502.〓FEDERAL INSURANCE OFFICE.436

Subtitle B—State-Based Insurance Reform456

SEC. 511.〓SHORT TITLE.456

SEC. 512.〓EFFECTIVE DATE.456

PART I—NONADMITTED INSURANCE456

SEC. 521.〓REPORTING,PAYMENT,AND ALLOCATION OF PREMIUM TAXES.456

SEC. 522.〓REGULATION OF NONADMITTED INSURANCE BY INSURED’S

HOME STATE.458

SEC. 523.〓PARTICIPATION IN NATIONAL PRODUCER DATABASE.458

SEC. 524.〓UNIFORM STANDARDS FOR SURPLUS LINES ELIGIBILITY.460

SEC. 525.〓STREAMLINED APPLICATION FOR COMMERCIAL PURCHASERS.460

SEC. 526.〓GAO STUDY OF NONADMITTED INSURANCE MARKET.460

SEC. 527.〓DEFINITIONS.462

PART II—REINSURANCE468

SEC. 531.〓REGULATION OF CREDIT FOR REINSURANCE AND

REINSURANCE AGREEMENTS.468

SEC. 532.〓REGULATION OF REINSURER SOLVENCY.470

SEC. 533.〓DEFINITIONS.470

PART III—RULE OF CONSTRUCTION472

SEC. 541.〓RULE OF CONSTRUCTION.472

SEC. 542.〓SEVERABILITY.472

TITLE VI—IMPROVEMENTS TO REGULATION OF BANK AND

SAVINGS ASSOCIATION HOLDING COMPANIES AND

DEPOSITORY INSTITUTIONS474

SEC. 601.〓SHORT TITLE.474

SEC. 602.〓DEFINITION.474

SEC. 603.〓MORATORIUM AND STUDY ON TREATMENT OF CREDIT

CARD BANKS,INDUSTRIAL LOAN COMPANIES,AND CERTAIN

OTHER COMPANIES UNDER THE BANK HOLDING COMPANY

ACT OF 1956.474

SEC. 604.〓REPORTS AND EXAMINATIONS OF HOLDING COMPANIES;

REGULATION OF FUNCTIONALLY REGULATED SUBSIDIARIES.480

SEC. 605.〓ASSURING CONSISTENT OVERSIGHT OF PERMISSIBLE

ACTIVITIES OF DEPOSITORY INSTITUTION SUBSIDIARIES

OF HOLDING COMPANIES.490

SEC. 606.〓REQUIREMENTS FOR FINANCIAL HOLDING COMPANIES TO

REMAIN WELL CAPITALIZED AND WELL MANAGED.496

SEC. 607.〓STANDARDS FOR INTERSTATE ACQUISITIONS.498

SEC. 608.〓ENHANCING EXISTING RESTRICTIONS ON BANK

TRANSACTIONS WITH AFFILIATES.498