Bank Holding Companies and Change in Bank Control; Investment Adviser Activities

Samenvatting

The Board seeks public comment on a proposal to revise its interpretive rule regarding investment adviser activities of bank holding companies to allow a bank holding company and its bank and nonbank subsidiaries to purchase in their sole discretion in a fiduciary capacity, securities of an investment company advised by the holding company if this purchase is specifically authorized by the terms of the instrument creating the fiduciary relationship, by court order, or by the law of the jurisdiction under which the trust is administered.