Fair Trade in Financial Services Act of 1995

Summary

Fair Trade in Financial Services Act of 1995 - Directs the Secretary of the Treasury (the President in the case of insurance organizations) to identify foreign countries that may be denying national treatment to U.S. banking and securities organizations and determine whether such possible denial may be having a significant adverse effect on them. Requires the Secretary and the President, when making such determinations, to: (1) consider specified factors; and (2) initiate negotiations (through the U.S. Trade Representative, in the President's case) with such foreign country to ensure that it accords national treatment to such U.S. organizations upon the determination of such possible denial. Authorizes the Secretary to recommend to the appropriate Federal regulatory agency that it suspend consideration of, or deny a request for, authorization filed by a person of a foreign country determined to have denied such national treatment. Authorizes the President to recommend similar action to the Secretary with respect to the registration of alien insurance organizations. Prohibits such sanctions with respect to any request for authorization filed by specified U.S. depository institutions, securities organizations, or alien insurance organizations which do business in the United States as of a specified date (reciprocal grandfather exemptions). Requires the Secretary (the President with respect to insurance organizations) to report annually to the Congress on foreign countries that deny national treatment to such U.S. organizations. Prohibits alien insurance organizations from engaging in insurance activities within the United States unless certain registration and related State requirements have been met.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 4 January 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 4 January 1995

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• Introduced in House

  summary · EN · 4 January 1995

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