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Gramm-Leach-Bliley Act Implementation

1. Title II Implementation for Broker/Dealers

• Letter to the SEC and the Federal Reserve regarding "Definitions of Terms and Exemptions Relating to the "Broker" Exceptions for Banks" and "Exemptions for Banks Under Section 3(a)(5) of the Securities Exchange Act of 1934 and Related Rules" (March 26, 2007) Two Additional Letters: June 7, 2007 and July 16, 2007
• SEC Announces Timetable for Enactment of Final Rules Under Gramm-Leach-Bliley Act (September 29, 2006)
• Title II Rulemaking Direction included in H.R. 3505, the Financial Services Regulatory Relief Act of 2005, passed on September 27, 2006 as S. 2586 and presented to the President on October 3, 2006.  The bill directs the Securities and Exchange Commission (SEC) to work with the Federal Reserve Board to promulgate joint regulations implementing the "push-out" provisions of the Gramm- Leach-Bliley Act (GLBA), and to consult with the OCC, Office of Thrift Supervision, and the FDIC on those regulations.
• Resolution Reached on Regulatory Relief Bill (September 27, 2006)
• Comparison of House and Senate Regulatory Relief Legislation (May, 2006)
• SEC Issues Guidance on Bank Dealer Rules 
• Senate Banking Committee Hearing notes.  The committee reviewed the timeline for receiving regulations implementing Title II.  (4-25-06)
• Memo describing how SEC implementation of Title II provisions could adversely impact Health Savings Accounts.  (11-2005)
• Regulation B Update (September 9, 2005)
• How Regulation B Will Hurt HSA Account Holders
• Summary of speech by Linda Stamp Sundberg from the SEC. (4-27-2005)
• SEC letter to Senate re: Reg B (March 5, 2005)
• Memo describing the guiding principals of Title II implementation from an industry perspective.  (1-21-2005)
• House Committee on Financial Services Letter to SEC re: Reg B (October 14, 2004)
• FRB, FDIC, OCC Letter to SEC re: Proposed Reg B File No. S7-26-04  (October 8, 2004)
• Appendix, Comments of the FRB, FDIC, and OCC re: Reg B
• Letter to SEC on Regulation B (September 1, 2004)
• Letter to SEC regarding GLBA push-out extension (July 1, 2004)
• SEC Notice of Proposed Rulemaking proposing new exemptions for banks from the definition of the term ''broker'', Regulation B.
• Letter to NASD regarding Registration Reguirements (June 22, 2004)
• SEC Fact Sheet regarding SEC GLBA Broker Rules (June 2, 2004)
• Postponement of Broker Rule (April 8, 2003)
• SEC Definition of Dealer
• ABA Comment letter on Dealer Rule (December 5, 2002)
• Pitt Letter (March 2, 2002)
• Banking Agencies Response to SEC Title II Rules (6/29/01)
• Bank Broker-dealer Final Comment Letter (July 17, 2001)
• SEC Extension GLBA (July 18, 2001)
• Letter to the SEC re Bank Broker-Dealer Interim Final Rules (June 4, 2001)
• "Chiefly" Letter (January 26, 2001)
• Fundserv Letter (November 7, 2000) 
• ABA Securities Association Analysis: The Gramm-Leach Bliley Act: Taking Advantage of the Securities and Capital Market Provisions (November 1, 2000)
• SIA-ABA Letter re: Toll of Two Year Grace Period (October 27, 2000)
• Letter to NASD re: Registration Requirements, (August 9, 2000)

  2. Merchant Banking Authority

• Testimony of Elizabeth Duke on Merchant Banking Powers (April 25, 2002)
• Capital Rule for Nonfinancial Equity Investments - Final Rule (1/25/02) for Nonfinancial Equity Investments - Final Rule (January 25, 2002)
• Highlights of Equity Investment Capital Rule (January 25, 2002)
• Leverage and Risk Based Capital Guidelines Comment Letter (April 16, 2001)
• Testimony - J. Whaley on Behalf of the ABASA (April 4, 2001)
• Testimony - J. Whaley on behalf of the ABASA before the House and Senate (June 7, 2000)
• Merchant Banking Comment Letter (May 15, 2000)

  3. SEC Consolidated Supervision

• Final Rule: Alternative Net Capital Requirements for Broker-Dealers That Are Part of Consolidated Supervised Entities. (August 20, 2004)
• Memo from ABASA with general outlines on final rule on Alternative Net Capital Requirements for Broker-Dealers that are part of Consolidated Supervised Entities.  (April 28, 2004)
• Comment letter from ABASA on the SEC's proposed rule on Alternative Net Capital Requirements for Broker-Dealers that are part of Consolidated Supervised Entities.  (February 4, 2004)

  4. Financial Privacy and Data Security

• Data Breach Legislation Summary Chart (June 30, 2006)
• Letter to Chairman Spector and Senator Leahy from the Financial Services Coordinating Council (November, 2005)
• Do not Fax Order from FCC (October 1, 2004)
• Letter to SEC regarding Limitations on Affiliate Marketing (August 16, 2004)
• OCC Unfair Trade Practices Guidance (April 1, 2002)

Contact for further information: Mark Tenhundfeld (202) 663-5042.