The Bank Security Protection Act

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Title of Legislation * The Bank Security Protection Act
Designation * Primary
Date of Congress * 13 January 2018
* BE IT ENACTED BY THE CONGRESS HERE ASSEMBLED THAT:
2 SECTION 1. Commercial banks insured by the Federal Deposit Insurance Corporation will be prohibited from:
3 A. Acting as or being affiliated with investment banks;
4 B. Owning, sponsoring, or investing in a hedge fund, private equity fund, or any other fund which takes on proprietary trading activities or positions;
5 C. Engaging in either market-making or prime brokerage activities.
6 SECTION 2. A commercial bank is defined as a depository entity that manages the deposit accounts of individuals, businesses, and uses money on deposit to make loans to public. An investment bank is defined as a bank that facilitates the buying of stocks,
7 securities, bonds, and other investments, as well as offering initial public openings.
8 SECTION 3. This legislation will be overseen and enforced by:
9 A. The Securities and Exchanges Commission which will ensure that information regarding the prohibited actions in Section 1 of this legislation will be provided to;
10 B. The Federal Deposit Insurance Corporation in order to survey compliance;
11 C. The Department of Justice will litigate against commercial banks and investment banks found non-compliant by the Federal Deposit Insurance Corporation.
12 SECTION 4. This legislation will be implemented at the start of Fiscal Year 2020.
13 SECTION 5. All laws in conflict with this legislation are hereby declared null and void.
Respectfully Submitted, Name of School * Xaverian High School

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