FDIC Federal Register Citations

[April 25, 1997 (Volume 62, Number 80)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]

[Page 22655]

Part LI

Federal Deposit Insurance Corporation

_______________________________________________________________________

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Completed Actions

_______________________________________________________________________

4111. SALES PRACTICES FOR GOVERNMENT SECURITIES

Priority: Substantive, Nonsignificant

Legal Authority: 15 USC 78o-5

CFR Citation: 12 CFR 368

Legal Deadline: None

Abstract: This joint rulemaking by the OCC, the FRS, and the FDIC

establishes standards concerning recommendations to customers and the

conduct of business by banks that are government securities brokers or

dealers. It defines a Business Conduct Rule, a Suitability Rule, and a

Suitability Interpretation. This rule is substantially identical to the

National Association of Securities Dealers' rules governing the sales

of government securities by non-bank brokers or dealers.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 04/25/96 61 FR 18470

NPRM Comment Period End 06/24/96

Final Action 03/19/97 62 FR 13276

Final Action Effective 07/01/97

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-AB83

_______________________________________________________________________