Bill Clinton signed the bill

http://www.mondaq.com/unitedstates/...m+Broker+Registration+Requirement+in+the+GLBA


the blanket exemption in the Securities Exchange Act of 1934 ("Exchange Act") from the definitions of "broker" and "dealer" for a "bank" was eliminated and statutory "functional" exemptions from the broker-dealer registration requirements were to take effect. (See the December 12, 2000 issue of the Alert for a description of the GLBA’s 11 "broker" and 4 "dealer" exemptions from the broker-dealer registration requirement). Just prior to this effective date on May 11, 2001, the SEC adopted interim final rules (the "Interim Rules") to address questions raised by banks, securities firms, and other interested groups about the application of the statutory exemptions and to provide certain additional exemptions. At the same time, the blanket exemption was temporarily extended until October 1, 2001. However, the Interim Rules received numerous comments and resulted in dialogue between the regulators and industry participants, and the temporary blanket exemption from registration was further extended
 
what you are claiming were the banking rules during this time must be proven by you.

GO GET WHAT THEY WERE if you claim something
 
evince said:
what you are claiming were the banking rules during this time must be proven by you.

GO GET WHAT THEY WERE if you claim something
Click to expand...

LMAO... that is what I thought... you are a liar and you have no clue. Which is why you refuse to explain your position.

Thanks for the definitive proof that you are a LIAR and an IDIOT.
 
http://www.bai.org/Libraries/LOB-Compliance-Downloads/Reg_R_Client_Alert.sflb.ashx


your lying super duper




Regulation R: Exemptions for Banks from the Definition of Broker in the
Securities Exchange Act of 1934 (12 CFR 218)
General Purpose
Regulation R defines the scope of securities activities that banks may conduct without registering with the Securities Exchange Commission (SEC) as a securities broker. To do this, banks must implement the most important exceptions from the definition of the term “broker” for banks under section 3(a)(4) of the Securities Exchange Act of 1934, as amended by the Gramm-Leach-Bliley Act (GLBA). These statutory exceptions:
 Allow a bank (subject to certain conditions) to continue to conduct securities transactions for customers as part of its trust and fiduciary, custodial, and deposit “sweep” functions
 May also refer customers to a securities broker-dealer pursuant to a networking arrangement
 Also cover custody and safekeeping activities
If More Than One of the Proceeding Exceptions or Exemptions Applies…
The bank may choose the exception or exemption on which it relies to perform the transaction without registering as a broker-dealer.
The bank must comply with all of the requirements contained in the exception or exemption on which it relies.
 
evince said:
and super duper runs from his lie yet again
Click to expand...

I asked you basic questions to determine if you understand what the SEC means. YOU are the one refusing to address the questions. I have already stated what my position is. You simply are too fucking ignorant or dishonest or both to see that.
 
evince said:
http://www.bai.org/Libraries/LOB-Compliance-Downloads/Reg_R_Client_Alert.sflb.ashx


your lying super duper




Regulation R: Exemptions for Banks from the Definition of Broker in the
Securities Exchange Act of 1934 (12 CFR 218)
General Purpose
Regulation R defines the scope of securities activities that banks may conduct without registering with the Securities Exchange Commission (SEC) as a securities broker. To do this, banks must implement the most important exceptions from the definition of the term “broker” for banks under section 3(a)(4) of the Securities Exchange Act of 1934, as amended by the Gramm-Leach-Bliley Act (GLBA). These statutory exceptions:
 Allow a bank (subject to certain conditions) to continue to conduct securities transactions for customers as part of its trust and fiduciary, custodial, and deposit “sweep” functions
 May also refer customers to a securities broker-dealer pursuant to a networking arrangement
 Also cover custody and safekeeping activities
If More Than One of the Proceeding Exceptions or Exemptions Applies…
The bank may choose the exception or exemption on which it relies to perform the transaction without registering as a broker-dealer.
The bank must comply with all of the requirements contained in the exception or exemption on which it relies.
Click to expand...



read em and weep
 
http://www.philadelphiafed.org/bank...src-insights/2009/fourth-quarter/q4si4_09.cfm


In 2007, the Board of Governors of the Federal Reserve System (Board) and the Securities and Exchange Commission (SEC) issued final rules, known as Regulation R.1 Regulation R implements certain of the broker exceptions for banks from the definition of the term "broker" under the Securities Exchange Act of 1934, as amended by the Gramm-Leach-Bliley Act (GLBA), Title II, and implements the GLBA removal of the blanket exemption from SEC registration for banks that effect securities transactions.2 The regulation is intended to provide a flexible framework for banks to continue to meet their customers' demands for banking services that include securities products while ensuring consumer protection. It is important to note that the compliance date for Regulation R for most banks was January 1, 2009.3 The regulation applies to banks, which are defined to include commercial banks, thrifts, trust companies, and U.S. branches and agencies of foreign banks.
 
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