SEC proposes new bank exemption rule
Federal regulators have proposed rules that would exempt banks from registering as brokers in certain situations.
Federal regulators have proposed rules that would exempt banks from registering as brokers in certain situations. Released jointly by the SEC and the Federal Reserve, the rules would, among other provisions, let banks pay bonuses to employees who refer customers to a bank’s brokerage arm and exempt banks from broker regulation when executing trust and fiduciary services if they meet certain criteria. Comments are due by March 26. For details, visit http://sec.gov/rules/proposed.shtml select “2006” and scroll down to the two rules proposed Dec. 18.
Learn more about reprints and licensing for this article.
