FOR IMMEDIATE RELEASE					2001-31



SEC RELEASES STATEMENT ON COMPLIANCE DATE 
FOR GRAMM-LEACH-BLILEY ACT REQUIREMENTS



Washington, DC, March 16, 2001 - Today the Commission released the
following statement with regard to compliance requirements under 
provisions of the Gramm-Leach-Bliley Act:


We understand that questions have arisen concerning the bank broker-dealer
exceptions of the Gramm-Leach-Bliley Act.  Accordingly, the Commission
intends to engage in rulemaking within the next few weeks to clarify
certain interpretative questions.  We also intend to provide additional time
from the current May 12, 2001 effective date for affected banks to come into
full compliance with the requirements under the Gramm-Leach-Bliley Act.  As part
of this process the Commission will continue discussions with interested parties
as these issues are further developed.



# # #