Page:United States Statutes at Large Volume 124.djvu/1447

 124 STAT. 1421 PUBLIC LAW 111–203—JULY 21, 2010 (2) USE OF EXISTING REPORTS AND INFORMATION.—In car- rying out subsection (a), the Board of Governors shall, to the fullest extent possible, use— (A) reports and supervisory information that a nonbank financial company or subsidiary thereof has been required to provide to other Federal or State regulatory agencies; (B) information otherwise obtainable from Federal or State regulatory agencies; (C) information that is otherwise required to be reported publicly; and (D) externally audited financial statements of such company or subsidiary. (3) AVAILABILITY.—Upon the request of the Board of Gov- ernors, a nonbank financial company supervised by the Board of Governors, or a subsidiary thereof, shall promptly provide to the Board of Governors any information described in para- graph (2). (b) EXAMINATIONS.— (1) IN GENERAL.—Subject to paragraph (2), the Board of Governors may examine any nonbank financial company super- vised by the Board of Governors and any subsidiary of such company, to inform the Board of Governors of— (A) the nature of the operations and financial condition of the company and such subsidiary; (B) the financial, operational, and other risks of the company or such subsidiary that may pose a threat to the safety and soundness of such company or subsidiary or to the financial stability of the United States; (C) the systems for monitoring and controlling such risks; and (D) compliance by the company or such subsidiary with the requirements of this title. (2) USE OF EXAMINATION REPORTS AND INFORMATION.—For purposes of this subsection, the Board of Governors shall, to the fullest extent possible, rely on reports of examination of any subsidiary depository institution or functionally regulated subsidiary made by the primary financial regulatory agency for that subsidiary, and on information described in subsection (a)(2). (c) COORDINATION WITH PRIMARY FINANCIAL REGULATORY AGENCY.—The Board of Governors shall— (1) provide reasonable notice to, and consult with, the primary financial regulatory agency for any subsidiary before requiring a report or commencing an examination of such sub- sidiary under this section; and (2) avoid duplication of examination activities, reporting requirements, and requests for information, to the fullest extent possible. SEC. 162. ENFORCEMENT. (a) IN GENERAL.—Except as provided in subsection (b), a nonbank financial company supervised by the Board of Governors and any subsidiaries of such company (other than any depository institution subsidiary) shall be subject to the provisions of sub- sections (b) through (n) of section 8 of the Federal Deposit Insurance Act (12 U.S.C. 1818), in the same manner and to the same extent as if the company were a bank holding company, as provided 12 USC 5362. Notice. Consultation.