2) Any activity that the Secretary of the Treasury, in consultation with the Board, has determined to be financial in nature or incidental to a financial activity and permissible for financial subsidiaries
pursuant to Section 5136A(b) of the Revised Statutes of the United States (12 U.
One of the conditions requires the bank and its subsidiaries
to comply with each of the voluntary commitments in Mellon's Policy Statement on Mutual Funds, which the bank and its subsidiaries
will adopt prior to the acquisition.
NewMarket delivers its portfolio of prevailing and emerging products and services through its global network of Solution Integration subsidiaries
in North America, Latin America, China and Singapore.
They tend to do that by subsidiary, or by setting up offshore entities and keeping all of their foreign subsidiaries
reporting into that entity.
10 does not contain provisions that effectively curtail the transfer of the subsidy to operating subsidiaries
or address this competitive imbalance.
The trustee-plainfiff responded that the firm's alleged failure to inform BNEC of BNEC's precarious financial condition, as well as that of the subsidiaries
, gave rise to a direct claim against the firm.
Three additional subsidiaries
are being prepared for public listings.
The taxpayer believed that only the parent's common management control over each of the individual subsidiaries
was required to establish a unitary business group.
Based Oh these and other facts of record, the Board concludes that considerations relating to the financial and managerial resources and future prospects of SunTrust, Crestar, and their respective subsidiaries
are consistent with approval of the proposal, as are the other supervisory factors that the Board must consider under section 3 of the BHC Act.
The GAO said it was the Federal Reserve's policy to inspect the firewall procedures of underwriting subsidiaries
Net Operating and Capital Losses of Acquired Subsidiaries
: Should loss carryovers of acquired subsidiaries
be waived in order to avoid a later negative adjustment to the basis in the subsidiary in the event the losses expire unused?
Also see the comments in "Net income of foreign subsidiaries
sold at losses that are "reimported" within 10 years of deconsolidation.
Because nonbank subsidiaries
of a bank holding company operating under section 20 of the Glass-Steagall Act are affiliates of a bank, they are not under the bank's control, do not have their profits or losses consolidated with the bank's, and are less liable to have their creditors recover against the bank.
of foreign companies increased substantially in 1992, according to a study by the Barents Group LLC of KPMG Peat Marwick, Washington, D.