CaseyLeFaye
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CaseyLeFaye
Representative
- Joined
- Oct 5, 2023
- Messages
- 63
- Thread Author
- #1
The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:
1 - Short Title and Enactment
(1) This Act may be cited as the 'Allow Public Investment Firms Act.'
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by Avaneesh2008.
(4) This Act has been co-sponsored by Sen. CopTop_YT.
2 - Reasons
(1) Investment Banks currently can only be privately owned which does not make sense.
(2) To amend the Commerical Standards Act.
3 - Terms
(1) Section 18 Subsection (3) of the Commercial Standards Act shall be amended to:
“(a) An Investment Bank does not take deposits.
(b) An Investment Bank is allowed to brokerage stocks through Stock Exchanges.
(c) An Investment Bank is privately owned and governed, with profits shared per owner discretion.
(c) An Investment Bank may also charge for services such as financial advising or market research.”