  title 0  sec 1 short title table of contents  a short title this act may be cited as the dodd-frank wall street reform and consumer protection act   b table of contents the table of contents for this act is as follows    sec 2 definitions  as used in this act, the following definitions shall apply, except as the context otherwise requires or as otherwise specifically provided in this act  1 affiliate the term affiliate has the same meaning as in section 3 of the federal deposit insurance act 12 usc 1813   2 appropriate federal banking agency on and after the transfer date, the term appropriate federal banking agency has the same meaning as in section 3 q of the federal deposit insurance act 12 usc 1813 q , as amended by title iii   3 board of governors the term board of governors means the board of governors of the federal reserve system   4 bureau the term bureau means the bureau of consumer financial protection established under title x   5 commission the term commission means the securities and exchange commission, except in the context of the commodity futures trading commission   6 commodity futures terms the terms futures commission merchant , swap , swap dealer , swap execution facility , derivatives clearing organization , board of trade , commodity trading advisor , commodity pool , and commodity pool operator have the same meanings as given the terms in section 1a of the commodity exchange act 7 usc 1 et seq   7 corporation the term corporation means the federal deposit insurance corporation   8 council the term council means the financial stability oversight council established under title i   9 credit union the term credit union means a federal credit union, state credit union, or state-chartered credit union, as those terms are defined in section 101 of the federal credit union act 12 usc 1752   10 federal banking agency the term  a federal banking agency means, individually, the board of governors, the office of the comptroller of the currency, and the corporation and   b federal banking agencies means all of the agencies referred to in subparagraph a , collectively    11 functionally regulated subsidiary the term functionally regulated subsidiary has the same meaning as in section 5 c 5 of the bank holding company act of 1956 12 usc 1844 c 5   12 primary financial regulatory agency the term primary financial regulatory agency means  a the appropriate federal banking agency, with respect to institutions described in section 3 q of the federal deposit insurance act, except to the extent that an institution is or the activities of an institution are otherwise described in subparagraph b , c , d , or e   b the securities and exchange commission, with respect to  i any broker or dealer that is registered with the commission under the securities exchange act of 1934, with respect to the activities of the broker or dealer that require the broker or dealer to be registered under that act   ii any investment company that is registered with the commission under the investment company act of 1940, with respect to the activities of the investment company that require the investment company to be registered under that act   iii any investment adviser that is registered with the commission under the investment advisers act of 1940, with respect to the investment advisory activities of such company and activities that are incidental to such advisory activities   iv any clearing agency registered with the commission under the securities exchange act of 1934, with respect to the activities of the clearing agency that require the agency to be registered under such act   v any nationally recognized statistical rating organization registered with the commission under the securities exchange act of 1934   vi any transfer agent registered with the commission under the securities exchange act of 1934   vii any exchange registered as a national securities exchange with the commission under the securities exchange act of 1934   viii any national securities association registered with the commission under the securities exchange act of 1934   ix any securities information processor registered with the commission under the securities exchange act of 1934   x the municipal securities rulemaking board established under the securities exchange act of 1934   xi the public company accounting oversight board established under the sarbanes-oxley act of 2002 15 usc 7211 et seq   xii the securities investor protection corporation established under the securities investor protection act of 1970 15 usc 78aaa et seq and   xiii any security-based swap execution facility, security-based swap data repository, security-based swap dealer or major security-based swap participant registered with the commission under the securities exchange act of 1934, with respect to the security-based swap activities of the person that require such person to be registered under such act    c the commodity futures trading commission, with respect to  i any futures commission merchant registered with the commodity futures trading commission under the commodity exchange act 7 usc 1 et seq , with respect to the activities of the futures commission merchant that require the futures commission merchant to be registered under that act   ii any commodity pool operator registered with the commodity futures trading commission under the commodity exchange act 7 usc 1 et seq , with respect to the activities of the commodity pool operator that require the commodity pool operator to be registered under that act, or a commodity pool, as defined in that act   iii any commodity trading advisor or introducing broker registered with the commodity futures trading commission under the commodity exchange act 7 usc 1 et seq , with respect to the activities of the commodity trading advisor or introducing broker that require the commodity trading adviser or introducing broker to be registered under that act   iv any derivatives clearing organization registered with the commodity futures trading commission under the commodity exchange act 7 usc 1 et seq , with respect to the activities of the derivatives clearing organization that require the derivatives clearing organization to be registered under that act   v any board of trade designated as a contract market by the commodity futures trading commission under the commodity exchange act 7 usc 1 et seq   vi any futures association registered with the commodity futures trading commission under the commodity exchange act 7 usc 1 et seq   vii any retail foreign exchange dealer registered with the commodity futures trading commission under the commodity exchange act 7 usc 1 et seq , with respect to the activities of the retail foreign exchange dealer that require the retail foreign exchange dealer to be registered under that act   viii any swap execution facility, swap data repository, swap dealer, or major swap participant registered with the commodity futures trading commission under the commodity exchange act 7 usc 1 et seq with respect to the swap activities of the person that require such person to be registered under that act and   ix any registered entity under the commodity exchange act 7 usc 1 et seq , with respect to the activities of the registered entity that require the registered entity to be registered under that act    d the state insurance authority of the state in which an insurance company is domiciled, with respect to the insurance activities and activities that are incidental to such insurance activities of an insurance company that is subject to supervision by the state insurance authority under state insurance law and   e the federal housing finance agency, with respect to federal home loan banks or the federal home loan bank system, and with respect to the federal national mortgage association or the federal home loan mortgage corporation    13 prudential standards the term prudential standards means enhanced supervision and regulatory standards developed by the board of governors under section 165   14 secretary the term secretary means the secretary of the treasury   15 securities terms the  a terms broker , dealer , issuer , nationally recognized statistical rating organization , security , and securities laws have the same meanings as in section 3 of the securities exchange act of 1934 15 usc 78c   b term investment adviser has the same meaning as in section 202 of the investment advisers act of 1940 15 usc 80b2 and   c term investment company has the same meaning as in section 3 of the investment company act of 1940 15 usc 80a3    16 state the term state means any state, commonwealth, territory, or possession of the united states, the district of columbia, the commonwealth of puerto rico, the commonwealth of the northern mariana islands, american samoa, guam, or the united states virgin islands   17 transfer date the term transfer date means the date established under section 311   18 other incorporated definitions  a federal deposit insurance act the terms bank , bank holding company , control , deposit , depository institution , federal depository institution , federal savings association , foreign bank , including , insured branch , insured depository institution , national member bank , national nonmember bank , savings association , state bank , state depository institution , state member bank , state nonmember bank , state savings association , and subsidiary have the same meanings as in section 3 of the federal deposit insurance act 12 usc 1813   b holding companies the term  i bank holding company has the same meaning as in section 2 of the bank holding company act of 1956 12 usc 1841   ii financial holding company has the same meaning as in section 2 p of the bank holding company act of 1956 12 usc 1841 p and   iii savings and loan holding company has the same meaning as in section 10 of the home owners loan act 12 usc 1467a a       sec 3 severability  if any provision of this act, an amendment made by this act, or the application of such provision or amendment to any person or circumstance is held to be unconstitutional, the remainder of this act, the amendments made by this act, and the application of the provisions of such to any person or circumstance shall not be affected thereby    sec 4 effective date  except as otherwise specifically provided in this act or the amendments made by this act, this act and such amendments shall take effect 1 day after the date of enactment of this act    sec 5 budgetary effects  the budgetary effects of this act, for the purpose of complying with the statutory pay-as-you-go-act of 2010, shall be determined by reference to the latest statement titled budgetary effects of paygo legislation for this act, jointly submitted for printing in the congressional record by the chairmen of the house and senate budget committees, provided that such statement has been submitted prior to the vote on passage in the house acting first on this conference report or amendment between the houses    sec 6 antitrust savings clause  nothing in this act, or any amendment made by this act, shall be construed to modify, impair, or supersede the operation of any of the antitrust laws, unless otherwise specified for purposes of this section, the term antitrust laws has the same meaning as in subsection a of the first section of the clayton act, except that such term includes section 5 of the federal trade commission act, to the extent that such section 5 applies to unfair methods of competition    