Citing objections from banking regulators including the Federal Reserve, the Securities and Exchange Commission said it would delay a plan to oversee brokerage services offered by banks until March 31, 2005.
Entities such as the Federal Reserve and the Federal Deposit Insurance Corp. claimed that the SEC proposal to regulate how banks offer brokerage services would interfere with their offering more products and that the added oversight would force expensive examinations of customer accounts.
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
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access