Broker exception for banks gets nod
The SEC and Federal Reserve recently approved rules that will allow banks to continue selling some securities products and services without registering as brokers.
The SEC and Federal Reserve recently approved rules that will allow banks to continue selling some securities products and services without registering as brokers. Originally proposed last December, the rules define the scope of securities activities that banks may engage in and under what conditions those activities may occur. For better details, visit sec.gov/rules/final/2007/34-56502.pdf and sec.gov/rules/final/2007/34-56501.pdf.
Learn more about reprints and licensing for this article.
