CUNA Regulatory Comment Call
July 26, 2004
Extension of Comment Period for Proposal Granting Credit Unions Some Broker-Dealer Exemptions Given Banks
(A Major Proposal)
The Securities and Exchange Commission (SEC) has issued a proposed rule ("Regulation B") that would grant credit unions some of the exemptions from the broker-dealer registration requirements that banks currently receive and provide new exemptions for banks. These exceptions are provided under the Securities Exchange Act of 1934 "Exchange Act," as amended by the Gramm-Leach-Bliley Act ("GLBA"). At the urging of CUNA and other trade associations, the proposal grants credit unions three exceptions, whereby they could conduct certain securities-related activities without registering as a broker or dealer.
- The Commission is extending the comment period on the Regulation B until September 1, 2004. This action will allow interested persons additional time to analyze the issues and prepare their comments. For details on the rule, please visit CUNAs comment call at: http://www.cuna.org/reg_advocacy/reg_call/rcc_070204.html. Comments are due to CUNA by August 13, 2004.
Please feel free to fax your responses to CUNA at 202-638-7052; or e-mail them to Associate General Counsel Mary Dunn at firstname.lastname@example.org and to Assistant General Counsel Michelle Profit at email@example.com; or mail them to Mary and Michelle c/o CUNAs Regulatory Advocacy Department, 601 Pennsylvania Avenue, NW, South Building, Suite 600, Washington, D.C. 20004. You may also access the announcement to extend the comment period at http://www.sec.gov/rules/proposed/34-50056.htm
Eric Richard General Counsel (202) 508-6742 firstname.lastname@example.org |
Mary Mitchell Dunn SVP & Associate General Counsel (202) 508-6736 email@example.com
Jeffrey Bloch Assistant General Counsel (202) 508-6732 firstname.lastname@example.org
Michelle Profit Assistant General Counsel (202) 508-6733 email@example.com
Catherine Orr Senior Regulatory Counsel (202) 508-6743 firstname.lastname@example.org