Sentences with phrase «operating subsidiary rule»

NationsBank was the first to apply to the Office of the Comptroller of the Currency in April under the OCC's operating subsidiary rule that would permit parent banks to establish subsidiaries to conduct business such as real estate development and insurance underwriting.

Not exact matches

In March 2015, Alibaba Singapore E-commerce, a subsidiary of Alibaba Group, where Ma is Executive Chairman, operating in Taiwan, was ordered to close its business or sell it within six months by the Taiwan economic authorities, who accused the affiliate of being a Chinese mainland company and violated some registration rules which are mandatory for a Chinese company.

Alibaba said the Taiwan subsidiary was registered in 2008 and followed the rules provided by the authorities at that time and that it had been operating in accordance to all legal procedures.

And in February of this year, the U.S. Office of the Comptroller of the Currency implemented a rule preempting certain state laws that license and regulate federally chartered banks and their operating subsidiaries.