PARITY FOR SAVINGS ASSOCIATIONS UNDER THE SECURITIES EXCHANGE ACT OF 1934 AND THE INVESTMENT ADVISERS ACT OF 1940.

SEC. 401. PARITY FOR SAVINGS ASSOCIATIONS UNDER THE SECURITIES EXCHANGE ACT OF 1934 AND THE INVESTMENT ADVISERS ACT OF 1940.(a) Securities Exchange Act of 1934.—(1) Definition of bank.—Section 3(a)(6) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(6)) is amended—120 STAT. 1972(A) in subparagraph (A), by inserting “or a Federal savings association, as defined in section 2(5) of the Home Owners’ Loan Act” after “a banking institution organized under the laws of the United States”; and(B) in subparagraph (C)—(i) by inserting “or savings association, as defined in section 2(4) of the Home Owners’ Loan Act” after “banking institution”; and(ii) by inserting “or savings associations” after “having supervision over banks”.(2) Inclusion of ots under the definition of appropriate regulatory agency for certain purposes.—Section 3(a)(34) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(34)) is amended—(A) in subparagraph (A)—(i) in clause (ii), by striking “(i) or (iii)” and inserting “(i), (iii), or (iv)”;(ii) in clause (iii), by striking “and” at the end;(iii) by redesignating clause (iv) as clause (v); and(iv) by inserting after clause (iii) the following:“(iv) the Director of the Office of Thrift Supervision, in the case of a savings association (as defined in section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813(b))), the deposits of which are insured by the Federal Deposit Insurance Corporation, a subsidiary or a department or division of any such savings association, or a savings and loan holding company; and”;(B) in subparagraph (B)—(i) in clause (ii), by striking “(i) or (iii)” and inserting “(i), (iii), or (iv)”;(ii) in clause (iii), by striking “and” at the end;(iii) by redesignating clause (iv) as clause (v); and(iv) by inserting after clause (iii) the following:“(iv) the Director of the Office of Thrift Supervision, in the case of a savings association (as defined in section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813(b))), the deposits of which are insured by the Federal Deposit Insurance Corporation, or a subsidiary of any such savings association, or a savings and loan holding company; and”;(C) in subparagraph (C)—(i) in clause (ii), by striking “(i) or (iii)” and inserting “(i), (iii), or (iv)”;(ii) in clause (iii), by striking “and” at the end;(iii) by redesignating clause (iv) as clause (v); and(iv) by inserting after clause (iii) the following:“(iv) the Director of the Office of Thrift Supervision, in the case of a savings association (as defined in section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813(b))), the deposits of which are insured by the Federal Deposit Insurance Corporation, a savings and loan holding company, or a subsidiary of a savings and loan holding company when the appropriate regulatory agency for such clearing agency is not the Commission; and”;(D) in subparagraph (D)—120 STAT. 1973(i) in clause (ii), by striking “and” at the end;(ii) by redesignating clause (iii) as clause (iv); and(iii) by inserting after clause (ii) the following:“(iii) the Director of the Office of Thrift Supervision, in the case of a savings association (as defined in section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813(b))) the deposits of which are insured by the Federal Deposit Insurance Corporation; and”;(E) in subparagraph (F)—(i) by redesignating clauses (ii), (iii), and (iv) as clauses (iii), (iv), and (v), respectively; and(ii) by inserting after clause (i) the following:“(ii) the Director of the Office of Thrift Supervision, in the case of a savings association (as defined in section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813(b))), the deposits of which are insured by the Federal Deposit Insurance Corporation; and”;(F) by moving subparagraph (H) and inserting such subparagraph immediately after subparagraph (G); and(G) by adding at the end of the undesignated matter at the end the following: “As used in this paragraph, the term ‘savings and loan holding company’ has the same meaning as in section 10(a) of the Home Owners’ Loan Act (12 U.S.C. 1467a(a)).”.(3) Conforming exemption to reporting requirement.—Section 23(b)(1) of the Securities Exchange Act of 1934 (15 U.S.C. 78w(b)(1)) is amended by inserting “other than the Office of Thrift Supervision,” before “shall each”.(b) Investment Advisers Act of 1940.—(1) Definition of bank.—Section 202(a)(2) of the Investment Advisers Act of 1940 (15 U.S.C. 80b–2(a)(2)) is amended—(A) in subparagraph (A), by inserting “or a Federal savings association, as defined in section 2(5) of the Home Owners’ Loan Act” after “a banking institution organized under the laws of the United States”; and(B) in subparagraph (C)—(i) by inserting “, savings association, as defined in section 2(4) of the Home Owners’ Loan Act,” after “banking institution”; and(ii) by inserting “or savings associations” after “having supervision over banks”.(2) Conforming amendments.—Section 210A of the Investment Advisers Act of 1940 (15 U.S.C. 80b–10a) is amended in each of subsections (a)(1)(A)(i), (a)(1)(B), (a)(2), and (b), by striking “bank holding company” each place that term appears and inserting “bank holding company or savings and loan holding company”.(c) Conforming Amendment to the Investment Company Act of 1940.—Section 10(c) of the Investment Company Act of 1940 (15 U.S.C. 80a–10(c)) is amended by inserting after “1956)” the following: “or any one savings and loan holding company, together with its affiliates and subsidiaries (as such terms are defined in section 10 of the Home Owners’ Loan Act),”.120 STAT. 1974