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TREAS/OTS | RIN: 1550-AB92 | Publication ID: Fall 2008 |
Title: Securities-Related Activities of Savings Associations | |
Abstract: OTS is proposing to reduce regulatory burden by updating and revising its rules on securities-related activities of savings associations. First, the proposed rule describes the existing authority of Federal savings associations to engage in various securities broker, dealer, and underwriting activities under the Home Owners' Loan Act (HOLA). This description should reduce compliance burdens by making OTS positions regarding the permissibility of these activities readily available to all. OTS is also updating the existing prohibition on the sale of debt and equity securities issued by a savings association or its affiliate at the offices of a savings association. This change will reduce burden on savings associations by adding new exceptions and by eliminating consumer protection rules that overlap, and in some cases conflict, with other Agency guidance. Finally, the proposed rule would eliminate various obsolete OTS securities activity regulations. | |
Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 506 12 CFR 545 12 CFR 559 12 CFR 563 | |
Legal Authority: 12 USC 375b 12 USC 1462 to 1462a 12 USC 1463 and 1464 12 USC 1467a 12 USC 1468 12 USC 1817 12 USC 1820 12 USC 1828 12 USC 1831o 12 USC 3806 42 USC 4106 44 USC 3501 et seq |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: Undetermined |
Small Entities Affected: Businesses | Federalism: Undetermined |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Judi McCormick Director, Trust and Specialty Department of the Treasury Office of Thrift Supervision 1700 G Street NW., Washington, DC 20552 Phone:202 906-5636 Martha Clarke Counsel Department of the Treasury 250 E Street, SW, Washington, DC 20219 Phone:202 906-5010 John P. Harootunian Senior Counsel, Business Transactions Division Department of the Treasury Office of Thrift Supervision 1700 G Street NW., Washington, DC 20552 Phone:202 906-6415 |