The SEC issued an order extending until September 30, 2005, the date by which banks must comply with certain broker registration requirements of the Gramm-Leach-Bliley Act, which repealed a provision of the Securities Exchange Act of 1934.
The SEC issued an order extending until September 30, 2005, the date by which banks must comply with certain broker registration requirements of the Gramm-Leach-Bliley Act, which repealed a provision of the Securities Exchange Act of 1934 Securities Exchange Act of 1934 The Securities Exchange Act of 1934 was created to provide governance of securities transactions on the secondary market (after issue) and regulate the exchanges and broker-dealers in order to protect the investing public.
Notes: All companies listed on stock exchanges must follow the requirements set forth in the Securities Exchange Act of 1934. that had allowed such institutions to engage in securities activities without registering as brokers or dealers (www.sec.gov/rules/exorders /34-51328.htm). Meanwhile the commission will amend interim rules it adopted to aid full compliance with the narrower requirements.
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