Except as defined below, terms
used in this part have the same meaning given them in 12 CFR 225.2.
(a) Securities holding
company.
(1) A securities holding company means—
(i) Any company that directly or indirectly owns or controls, is
controlled by, or is under common control with, one or more brokers
or dealers registered with the Securities and Exchange Commission;
and
(ii) Is required
by a foreign regulator or provision of foreign law to be subject to
comprehensive consolidated supervision.
(2) A securities holding company does not
include a company that is—
(i) A nonbank financial company supervised
by the Board pursuant to Title I of the Dodd-Frank Wall Street Reform
and Consumer Protection Act (12 U.S.C. 5301 et seq.);
(ii) An insured bank (other
than an institution described in subparagraphs (D), (F), or (H) of
section 2(c)(2) of the Bank Holding Company Act of 1956 (12 U.S.C.
1841(c)(2))) or a savings association;
(iii) An affiliate of an insured bank
(other than an institution described in subparagraphs (D), (F), or
(H) of section 2(c)(2) of the Bank Holding Company Act of 1956 (12
U.S.C. 1841(c)(2))) or an affiliate of a savings association;
(iv) A foreign bank, foreign
company, or company that is described in section 8(a) of the International
Banking Act of 1978 (12 U.S.C. 3106(a));
(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) Currently subject
to comprehensive consolidated supervision by a foreign regulator.
(b) Supervised securities
holding company means a securities holding company that is supervised
by the Board pursuant to this part.