securities holding company
Defined in 1 place of the United States Code.
the term “securities holding company”—
(A) means—
(i) a person (other than a natural person) that owns or controls 1 or more brokers or dealers registered with the Commission; and
(ii) the associated persons of a person described in clause (i); and
(B) does not include a person that is—
(i) a nonbank financial company supervised by the Board under title I; 1
(ii) an insured bank (other than an institution described in subparagraphs 2 (D), (F), or (H) of section 2(c)(2) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(c)(2)) 3 or a savings association;
(iii) an affiliate of an insured bank (other than an institution described in subparagraphs 2 (D), (F), or (H) of section 2(c)(2) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(c)(2)) 3 or an affiliate of a savings association;
(iv) a foreign bank, foreign company, or company that is described in section 3106(a) of this title;
(v) a foreign bank that controls, directly or indirectly, a corporation chartered under section 25A of the Federal Reserve Act (12 U.S.C. 611 et seq.); or
(vi) subject to comprehensive consolidated supervision by a foreign regulator;
Source
- 2010–present12 U.S.C. § 1850aBanks and Banking · Securities holding companies · in this section