Definitions of Terms and Exemptions Relating to the “Broker” Exceptions for Banks
The Board and the Commission jointly are adopting technical amendments to Regulation R, which the Agencies jointly adopted in September 2007. Regulation R implements certain of the exceptions for banks from the definition of the term ``broker'' in section 3(a)(4) of the Securities Exchange Act of 1934 (``Exchange Act''), as amended by the Gramm-Leach-Bliley Act (``GLBA''). The technical amendments correct cross-references and other typographical errors in the regulation.
Proposed Rule Changes of Self-Regulatory Organizations
The Securities and Exchange Commission (``Commission'') published in the Federal Register of March 27, 2008 (72 FR 16179), a document concerning proposed rule changes by Self-Regulatory Organizations submitted pursuant to Section 19(b)(7)(A) of the Securities Exchange Act of 1934.