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Financial Institution Letter

Sales Practices for Government Securities

May 17, 1996
Notes
 

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Joint Notice of Proposed Rulemaking—Sales
Practices for Government Securities (Part 368)

The FDIC, the Office of the Comptroller of the Currency and the Federal Reserve Board have proposed for public comment rules governing sales practices for government securities sold by bank brokers or dealers. These rules are substantially identical to the National Association of Securities Dealers' (NASD) rules governing the sales of government securities by non- bank brokers or dealers. The attached Federal Register notice defines a proposed Business Conduct Rule, a Suitability Rule, and a Suitability Interpretation.

The FDIC will accept public comments on the proposed rulemaking until June 24, 1996. For more information about the proposal, please contact one of the FDIC officials listed on page 18470 of the attached Federal Register notice.

Nicholas J. Ketcha Jr.
Director

Attachment: PDF Format (63 kb, PDF help or hard copy ), HTML Format

Distribution: FDIC-Supervised Banks (Commercial and Savings)


FIL-30-96

Last Updated: May 17, 1996