FDIC Federal Register Citations

[Page 23852]

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Final Rule Stage

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4168. 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 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

RIN: 3064-AB85
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