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To address compliance issues caused by Hurricane Katrina and its aftermath, the orders conditionally exempt banks, bank holding companies, and bank subsidiaries acting as transfer agents from compliance with section 17A of the Securities Exchange Act of 1934. The SEC issued an order extending until September 30, 2005, the date by which banks must comply with certain broker registration requirements of the Gramm-Leach-Bliley Act, which repealed a provision of the Securities Exchange Act of 1934 that had allowed such institutions to engage in securities activities without registering as brokers or dealers (www. Part 208, its Regulation H (Reporting and Disclosure Requirements for State Member Banks with Securities Registered Under the Securities Exchange Act of 1934). |
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