Federal Deposit
Insurance Corporation

[Page 74908-74909]

Federal Deposit Insurance Corporation (FDIC) Final Rule Stage

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4611. 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 proposal, sponsored jointly by the OCC, the FRS, and the
FDIC, would establish qualifications for banks that sell certain
securities to their customers without having to register as a broker
under the Securities Exchange

[[Page 74909]]

Act. FDIC staff are contemplating a recommendation to rescind this
proposal and replace it with a second NPRM to exempt banks from
registering with the NASD/SEC as securities brokers or dealers in the
event that they qualify under any of the exemption criteria in Gramm-
Leach-Bliley Act sections 201 or 202 (see NPRM described at 3064-AC42).

Timetable:
________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 12/30/96 61 FR 68824
NPRM Comment Period End 02/28/97
Final Action 10/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

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