Bill Summary

by Moraitis

International Financial Institutions: Revises requirements for confidential books & records of financial institutions; revises examination requirements; authorizes & prohibits certain limited service affiliate activities; provides OFR with certain powers; provides limited service affiliate registration requirements; provides applicability of financial institutions codes; provides registrant reporting & recordkeeping requirements; authorizes office to conduct an examination or investigation of limited service affiliate; provides powers of office; provides fee requirements; provides for suspension, revocation, or voluntary surrender of registration; provides registration renewal requirements; provides that international trust entity's limited service affiliate is not required, in response to subpoena, to produce certain books or records. Effective Date: January 1, 2018

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