The exercise of authority conferred in this subsection shall be governed by and comply with chapter 485A and any securities administrative rules adopted under chapter 485A. Administration of chapter [485A] and any securities administrative rules shall be vested with the commissioner of securities.
The exercise of authority conferred in this subsection shall be governed by and comply with chapter 485A and any securities rules adopted under chapter 485A or the laws and administrative rules of the state, dependency, insular possession, or foreign country applicable to the conduct of such securities activities within that jurisdiction.
If the bank proposes to engage in securities activities through a subsidiary or affiliate, then the application shall also contain information regarding the experience and qualifications of the proposed executive officers and directors of the subsidiary or affiliate and the ownership, amount, and nature of the bank's investment in and advances to the subsidiary or affiliate. Upon being satisfied that the application is complete, that the conduct of the securities activities will not affect the safety or soundness of the bank or harm the public interest, and that the bank and its subsidiary or affiliate, if applicable, have sufficient experience, qualifications, and financial capability to engage in the activities authorized by this section, the commissioner shall approve the application. The commissioner may impose any terms and conditions that the commissioner considers necessary to protect the bank, the customers of the bank, and the public interest.
HRS § 412:5-205.7