Law360, New York (September 26, 2007, 12:00 AM ET) -- After eight years of discussion, the U.S. Securities and Exchange Commission and the Federal Reserve System have adopted the final set of rules dictating the circumstances under which banks must register as securities brokers.
The SEC and the Fed adopted the final joint rule on Monday, paving the way for the implementation of broker exceptions for banks under the Securities Exchange Act of 1934. The adoption of the rule comes just one week after the agencies passed the first set of rules aimed at clarifying broker...
SEC, Federal Reserve Bless Bank Exemptions
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