[April 25, 1997 (Volume 62, Number 80)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[Page 22653]
Part LI
Federal Deposit Insurance Corporation
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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Final Rule Stage
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4104. QUALIFICATION REQUIREMENTS FOR THE RECOMMENDATION OR SALE OF
CERTAIN SECURITIES
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1818; 12 USC 1831
CFR Citation: 12 CFR 342
Legal Deadline: None
Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, and
the FDIC. It establishes qualifications for those banks that sell
certain securities directly to retail customers through their employees
without having to register as a broker under the Securities Exchange
Act. More particularly, this action establishes filing requirements for
banks, and registration, testing, and continuing education requirements
for bank securities representatives consistent with the professional
qualification requirements for broker-dealers and registered
representatives under the Securities Exchange Act and rules thereunder,
and the rules of the securities self-regulatory organizations.
Timetable:
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Action Date FR Cite
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NPRM 12/30/96 61 FR 68824
NPRM Comment Period End 02/28/97
Final Action 08/00/97
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: William A. Stark, Assistant Director, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-6972
RIN: 3064-AB85
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