long impasse between the SEC and banks regarding the appropriate interpretation

hey asshole

his thread is exactly what you claim I'm not doing


how can you fucks be so stupid?
 
evince said:
The FRB and the SEC approved Regulation R ("Final Regulation R") implementing the bank broker push out provisions under Title II of the Gramm-Leach-Bliley Act of 1999 ("GLBA"). A bank or thrift (collectively, a "bank") must start complying with Regulation R on the first day of the bank’s fiscal year starting after September 30, 2008, which for many banks will be January 1, 2009.

Regulation R was proposed by the FRB and the SEC jointly in an effort to resolve a years-long impasse between the SEC and banks regarding the appropriate interpretation of 11 statutory exceptions in the GLBA. The exceptions were intended to preserve bank activity after Congress repealed the blanket bank exception from broker regulation. The repeal was long-sought by the SEC in order to provide for functional SEC regulation of bank broker activities in response to banks’ entry into broader financial services securities activities, including the retail sale of mutual funds, in the 1980s.

To provide greater certainty to banks, the SEC made several attempts to issue regulations (proposed Regulation B in 2004 and the Bank Broker-Dealer Interim Final Rules in 2001) – these attempts were criticized by banks, banking agencies, and some members of Congress. Last fall, in adopting the Financial Services Regulatory Relief Act of 2006, Congress required the SEC to withdraw its rules and issue new rules jointly with the FRB in consultation with the other federal banking agencies.

Final Regulation R generally reflects proposed Regulation R, but also addresses banks’ concerns regarding legal and enforcement risk and contains further easing of bank regulatory burden in discrete areas, notably the "chiefly compensated" income test for exempted trust/fiduciary activity, the types of referral compensation permitted under the networking exemption, the scope of exempted custody activity, sweeps of deposit funds collected by another bank, and exempted transactions in variable insurance products effected with an insurance company.

Significant changes made by Regulation R, in comparison with previous proposals, are summarized below.



http://www.mondaq.com/unitedstates/x...e+Regulation+R
Click to expand...

post 2 you fucking lying shit box
 
evince said:
hey asshole

his thread is exactly what you claim I'm not doing


how can you fucks be so stupid?
Click to expand...

No Desh, it is not. It is YOU once again just posting links that you don't understand.

We are asking YOU to put in YOUR words what YOU think the links mean. We are asking YOU to describe in YOUR words WHICH rules would have prevented the crash.

YOU consistently refuse to do that.
 
this is not about me you fucking asshole


this is about the bank broker rules and how fucking failed your deregulation bullshit is
 
I will spell it out for you Desh since you are too fucking stupid to figure it out on your own.

By your own links, it was Sept of 2007 that the rules were put in place. Bush took office in 2001. Thus it was about 6.5 years under Bush. The impasse BEGAN under CLINTON and continued under Bush. Yet you pretend it was all Bush.

So again... your 'FACT' was WRONG.

You still have yet to show WHAT rule or rules would have prevented the crash.
 
evince said:
this is not about me you fucking asshole
this is about the bank broker rules and how fucking failed your deregulation bullshit is
Click to expand...

You mean Clinton's deregulation?

Yeah... I have argued against the repeal of Glass Steagall for over a decade. YOUR party's leader deregulated the banks.
 
evince said:
It is fact that the Bush admin held back the bank broker rules for 8 years


It is FACT that govs tried to make make laws to protect bank consumers that were then thwarted by Bush and team
Click to expand...

evince said:
SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers

Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented

FOR IMMEDIATE RELEASE
2007-190

Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.
Click to expand...


you fucking retard.
 
evince said:
The FRB and the SEC approved Regulation R ("Final Regulation R") implementing the bank broker push out provisions under Title II of the Gramm-Leach-Bliley Act of 1999 ("GLBA"). A bank or thrift (collectively, a "bank") must start complying with Regulation R on the first day of the bank’s fiscal year starting after September 30, 2008, which for many banks will be January 1, 2009.

Regulation R was proposed by the FRB and the SEC jointly in an effort to resolve a years-long impasse between the SEC and banks regarding the appropriate interpretation of 11 statutory exceptions in the GLBA. The exceptions were intended to preserve bank activity after Congress repealed the blanket bank exception from broker regulation. The repeal was long-sought by the SEC in order to provide for functional SEC regulation of bank broker activities in response to banks’ entry into broader financial services securities activities, including the retail sale of mutual funds, in the 1980s.

To provide greater certainty to banks, the SEC made several attempts to issue regulations (proposed Regulation B in 2004 and the Bank Broker-Dealer Interim Final Rules in 2001) – these attempts were criticized by banks, banking agencies, and some members of Congress. Last fall, in adopting the Financial Services Regulatory Relief Act of 2006, Congress required the SEC to withdraw its rules and issue new rules jointly with the FRB in consultation with the other federal banking agencies.

Final Regulation R generally reflects proposed Regulation R, but also addresses banks’ concerns regarding legal and enforcement risk and contains further easing of bank regulatory burden in discrete areas, notably the "chiefly compensated" income test for exempted trust/fiduciary activity, the types of referral compensation permitted under the networking exemption, the scope of exempted custody activity, sweeps of deposit funds collected by another bank, and exempted transactions in variable insurance products effected with an insurance company.

Significant changes made by Regulation R, in comparison with previous proposals, are summarized below.



http://www.mondaq.com/unitedstates/x...e+Regulation+R
Click to expand...

post 2 in his thread
 
Superfreak said:
I will spell it out for you Desh since you are too fucking stupid to figure it out on your own.

By your own links, it was Sept of 2007 that the rules were put in place. Bush took office in 2001. Thus it was about 6.5 years under Bush. The impasse BEGAN under CLINTON and continued under Bush. Yet you pretend it was all Bush.

So again... your 'FACT' was WRONG.

You still have yet to show WHAT rule or rules would have prevented the crash.
Click to expand...




what was that comply date asshole?
 
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