12 USC 5301 - Definitions

U.S Code last checked for updates: Feb 21, 2025

§ 5301.

Definitions

As used in this Act, the following definitions shall apply, except as the context otherwise requires or as otherwise specifically provided in this Act:

(1)

Affiliate

(2)

Appropriate Federal banking agency

(3)

Board of Governors

(4)

Bureau

(5)

Commission

(6)

Commodity futures terms

(7)

Corporation

(8)

Council

(9)

Credit union

(10)

Federal banking agency

The term—

(A)

“Federal banking agency” means, individually, the Board of Governors, the Office of the Comptroller of the Currency, and the Corporation; and

(B)

“Federal banking agencies” means all of the agencies referred to in subparagraph (A), collectively.

(11)

Functionally regulated subsidiary

(12)

Primary financial regulatory agency

The term “primary financial regulatory agency” means—

(A)

the appropriate Federal banking agency, with respect to institutions described in section 1813(q) of this title, except to the extent that an institution is or the activities of an institution are otherwise described in subparagraph (B), (C), (D), or (E);

(B)

the Securities and Exchange Commission, with respect to—

(i)

any broker or dealer that is registered with the Commission under the Securities Exchange Act of 1934 [15 U.S.C. 78a et seq.], with respect to the activities of the broker or dealer that require the broker or dealer to be registered under that Act;

(ii)

any investment company that is registered with the Commission under the Investment Company Act of 1940 [15 U.S.C. 80a–1 et seq.], with respect to the activities of the investment company that require the investment company to be registered under that Act;

(iii)

any investment adviser that is registered with the Commission under the Investment Advisers Act of 1940 [15 U.S.C. 80b–1 et seq.], with respect to the investment advisory activities of such company and activities that are incidental to such advisory activities;

(iv)

any clearing agency registered with the Commission under the Securities Exchange Act of 1934, with respect to the activities of the clearing agency that require the agency to be registered under such Act;

(v)

any nationally recognized statistical rating organization registered with the Commission under the Securities Exchange Act of 1934;

(vi)

any transfer agent registered with the Commission under the Securities Exchange Act of 1934;

(vii)

any exchange registered as a national securities exchange with the Commission under the Securities Exchange Act of 1934;

(viii)

any national securities association registered with the Commission under the Securities Exchange Act of 1934;

(ix)

any securities information processor registered with the Commission under the Securities Exchange Act of 1934;

(x)

the Municipal Securities Rulemaking Board established under the Securities Exchange Act of 1934;

(xi)

the Public Company Accounting Oversight Board established under the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7211 et seq.);

(xii)

the Securities Investor Protection Corporation established under the Securities Investor Protection Act of 1970 (15 U.S.C. 78aaa et seq.); and

(xiii)

any security-based swap execution facility, security-based swap data repository, security-based swap dealer or major security-based swap participant registered with the Commission under the Securities Exchange Act of 1934, with respect to the security-based swap activities of the person that require such person to be registered under such Act;

(C)

the Commodity Futures Trading Commission, with respect to—

(i)

any futures commission merchant registered with the Commodity Futures Trading Commission under the Commodity Exchange Act (7 U.S.C. 1 et seq.), with respect to the activities of the futures commission merchant that require the futures commission merchant to be registered under that Act;

(ii)

any commodity pool operator registered with the Commodity Futures Trading Commission under the Commodity Exchange Act (7 U.S.C. 1 et seq.), with respect to the activities of the commodity pool operator that require the commodity pool operator to be registered under that Act, or a commodity pool, as defined in that Act;

(iii)

any commodity trading advisor or introducing broker registered with the Commodity Futures Trading Commission under the Commodity Exchange Act (7 U.S.C. 1 et seq.), with respect to the activities of the commodity trading advisor or introducing broker that require the commodity trading adviser or introducing broker to be registered under that Act;

(iv)

any derivatives clearing organization registered with the Commodity Futures Trading Commission under the Commodity Exchange Act (7 U.S.C. 1 et seq.), with respect to the activities of the derivatives clearing organization that require the derivatives clearing organization to be registered under that Act;

(v)

any board of trade designated as a contract market by the Commodity Futures Trading Commission under the Commodity Exchange Act (7 U.S.C. 1 et seq.);

(vi)

any futures association registered with the Commodity Futures Trading Commission under the Commodity Exchange Act (7 U.S.C. 1 et seq.);

(vii)

any retail foreign exchange dealer registered with the Commodity Futures Trading Commission under the Commodity Exchange Act (7 U.S.C. 1 et seq.), with respect to the activities of the retail foreign exchange dealer that require the retail foreign exchange dealer to be registered under that Act;

(viii)

any swap execution facility, swap data repository, swap dealer, or major swap participant registered with the Commodity Futures Trading Commission under the Commodity Exchange Act (7 U.S.C. 1 et seq.) with respect to the swap activities of the person that require such person to be registered under that Act; and

(ix)

any registered entity under the Commodity Exchange Act (7 U.S.C. 1 et seq.), with respect to the activities of the registered entity that require the registered entity to be registered under that Act;

(D)

the State insurance authority of the State in which an insurance company is domiciled, with respect to the insurance activities and activities that are incidental to such insurance activities of an insurance company that is subject to supervision by the State insurance authority under State insurance law; and

(E)

the Federal Housing Finance Agency, with respect to Federal Home Loan Banks or the Federal Home Loan Bank System, and with respect to the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation.

(13)

Prudential standards

(14)

Secretary

(15)

Securities terms

The—

(A)

terms “broker”, “dealer”, “issuer”, “nationally recognized statistical rating organization”, “security”, and “securities laws” have the same meanings as in section 3 of the Securities Exchange Act of 1934 (15 U.S.C. 78c);

(B)

term “investment adviser” has the same meaning as in section 202 of the Investment Advisers Act of 1940 (15 U.S.C. 80b–2); and

(C)

term “investment company” has the same meaning as in section 3 of the Investment Company Act of 1940 (15 U.S.C. 80a–3).

(16)

State

(17)

Transfer date

(18)

Other incorporated definitions

(A)

Federal Deposit Insurance Act

(B)

Holding companies

The term—

(i)

“bank holding company” has the same meaning as in section 1841 of this title;

(ii)

“financial holding company” has the same meaning as in section 1841(p) of this title; and

(iii)

“savings and loan holding company” has the same meaning as in section 1467a(a) of this title.

(Pub. L. 111–203, § 2, July 21, 2010, 124 Stat. 1386.)

cite as: 12 USC 5301