Page:United States Statutes at Large Volume 113 Part 2.djvu/351

 PUBLIC LAW 106-102—NOV. 12, 1999 113 STAT. 1371 and other Federal law applicable to foreign banks and their affiliates in the United States; and (B) appropriate to prevent an evasion of any provision of law referred to in subparagraph (A) or to avoid any significant risk to the safety and soundness of depository '' institutions or any Federal deposit insurance fund or other adverse effects, such as undue concentration of resources, decreased or unfair competition, conflicts of interests, or unsound banking practices. (c) FEDERAL DEPOSIT INSURANCE CORPORATION.— (1) IN GENERAL. —The Federal Deposit Insurance Corporation may, by regulation or order, impose restrictions or requirements on relationships or transactions between a State nonmember bank (as defined in section 3 of the Federal Deposit Insurance Act) and a subsidiary of the State nonmember bank that the Corporation finds are— (A) consistent with the purposes of this Act, the Federal Deposit Insureince Act, or other Federal law applicable to State nonmember banks; and '' (B) appropriate to avoid any significant risk to the safety and soundness of depository institutions or any Fed- ' eral deposit insurance fund or other adverse effects, such as undue concentration of resources, decreased or unfair ^i i competition, conflicts of interests, or unsound banking practices. (2) REVIEW. — The Federal Deposit Insurance Corporation shall regularly— (A) review all restrictions or requirements established pursuant to paragraph (1) to determine whether there is a continuing need for any such restriction or requirement to carry out the purposes of the Act, including the avoidance of any adverse effect referred to in paragraph (1)(B); and . (B) modify or eliminate any such restriction or requirement the Corporation finds is no longer required for such purposes. SEC. 115. EXAMINATION OF INVESTMENT COMPANIES. 12 USC 1820a. (a) 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 compginy 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 10(b)(4) of the Federal Deposit Insurance Act, 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.

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