The Securities and Exchange Commission and the Federal Reserve Board have jointly released rules to implement “broker” exceptions for banks.

The proposed guidelines help define the scope of securities activities that banks may conduct without registering with the SEC as a securities broker, and would implement important broker exceptions for banks adopted by 1999’s Gramm-Leach-Bliley Act.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access