Foreign Broker-Dealer Securities Activities
The Securities and Exchange Commission (SEC) has issued a "no-action" letter relaxing certain restrictions on the securities activities of U.S.-affiliated foreign securities broker-dealers within the U.S. The Department of the Treasury has adopted the position of the SEC, under the Treasury Department's Government Securities Act authority. The SEC no-action letter and the Treasury's position reduce the regulatory burden on U.S.-affiliated foreign broker-dealers in four areas:
The Treasury Department has asked us to distribute the attached copies of Treasury and SEC letters describing these actions. Questions on these matters should be directed to the Treasury's Government Securities Regulations staff at (202) 219-3632.
Distribution: FDIC-Supervised Government Securities Broker-Dealers NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 ((703) 562-2200 or 800-276-6003). |