House Passes Bill Cutting SEC Red Tape For Thrifts

Law360, Washington (January 14, 2014, 7:32 PM EST) -- The U.S. House of Representatives on Tuesday passed a bill allowing small savings and loan associations to avoid costly registration of their securities with the U.S. Securities and Exchange Commission, correcting an oversight in previous legislation that had cut SEC red tape for other community banks.

The Holding Company Registration Threshold Equalization Act, H.R. 801, exempts small savings and loans institutions, or thrifts, with 2,000 or fewer shareholders from having to register with the SEC, while also allowing thrifts with fewer than 1,200 shareholders to deregister...
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