How do the statutory cross marketing and sections 23A and B limitations apply to merchant banking investments?

CFR · 2024-01-01 · US · Title 12

(a) (i) Offer or market, directly or through any arrangement, any product or service of any company if more than 5 percent of the company's voting shares, assets or ownership interests are owned or controlled by the financial holding company pursuant to this subpart; or (ii) Allow any product or service of the depository institution, including any product or service of a subsidiary of the depository institution, to be offered or marketed, directly or through any arrangement, by or through any company described in paragraph (a)(1)(i) of this section. (2) (3) (i) Portfolio companies held by a private equity fund that the financial holding company does not control; or (ii) The sale, offer or marketing of any interest in a private equity fund, whether or not controlled by the financial holding company. (b) (2) (3) (i) No officer, director or employee of the financial holding company serves as a director, trustee, or general partner (or individual exercising similar functions) of the company; (ii) A person that is not affiliated or associated with the financial holding company owns or controls a greater percentage of the equity capital of the portfolio company than the amount owned or controlled by the financial holding company, and no more than one officer or employee of the holding company serves as a director or trustee (or individual exercising similar functions) of the company; or (iii) A person that is not affiliated or associated with the financial holding company owns or c

official document · source cfr-2024 · id 12:§ 225.176