Open Meeting Agenda
|Item 1:||Definitions of Terms and Exemptions Relating to the "Broker" Exceptions for Banks; Exemptions for Banks Under Section 3(a)(5) of the Securities Exchange Act of 1934 and Related Rules|
Division: Division of Market Regulation
Staff: Robert L.D. Colby, Catherine McGuire, Linda Sundberg, Joshua Kans, John Fahey, Elizabeth MacDonald
|Item 2:||Temporary Rule Regarding Principal Trades with Certain Advisory Clients; Broker-Dealers Excepted from the Investment Advisers Act of 1940|
Division: Division of Investment Management
Staff: Robert E. Plaze, David W. Blass, Daniel S. Kahl, Matthew N. Goldin
The Commission will consider whether to adopt, jointly with the Board of Governors of the Federal Reserve System, new rules under the Securities Exchange Act of 1934 ("Exchange Act") to implement the Gramm-Leach-Bliley Act bank exceptions to the definition of "broker."
In addition, the Commission will consider whether to adopt additional related rules and rule amendments, including rules exempting banks from the definition of "dealer" under the Exchange Act.
For further information, please contact: Linda Stamp Sundberg, Division of Market Regulation, at (202) 551-5550.
The Commission will consider whether to adopt, on an interim final basis, a temporary rule that would provide investment advisers who also are registered broker-dealers an alternative means of compliance with the principal trading restrictions of Section 206(3) of the Investment Advisers Act.
The Commission will also consider whether to propose an interpretive rule under the Investment Advisers Act that would clarify the application of the Advisers Act to certain activities of broker-dealers.
For further information concerning the temporary rule, please contact Matthew N. Goldin, Division of Investment Management, at (202) 551-6787.
For further information concerning the interpretive rule, please contact Vincent M. Meehan, Division of Investment Management, at (202) 551-6787.
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