« iepriekšējāTurpināt »
8 11367. Application of other laws
(a) Section 14(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78n(a)) does not apply to a solicitation related to a proposed change under this subchapter.
(b) If the Interstate Commerce Commission finds an issuance of a security, that is an interest in a railroad equipment trust as defined in section 3(aX6) of the Securities Act of 1933 (15 U.S.C. 77c(a)(6)), under this subchapter complies with section 11301 of this title, it is considered to be an issuance subject to section 11301 within the meaning of section 3(a)(6). Section 5 of that Act (15 U.S.C. 77e) does not apply to the issuance, sale, or exchange of certificates of deposit representing securities of, or claims against, a carrier that are issued by committees in proceedings under this subchapter. Those certificates and transactions under this subchapter are exempt from that Act (15 U.S.C. 77a et seq.).
REGULATORY DEFINITION OF “SEPARATELY IDENTIFIABLE DEPARTMENT OR DIVISION OF A BANK”
Section 15B(b)(2)(H) of the Securities Exchange Act of 1934 (15 U.S.C. 780-4(b)(2)(H)), provides that the Municipal Securities Rulemaking Board shall define the term "separately identifiable department or division of a bank”, as that term is used in section 3(a)(30) of that Act (15 U.S.C. 78c(a)(30)). Pursuant to this provision, the Municipal Securities Rulemaking Board has adopted Rule G-1, which is set forth below:
RULE G-1. (a) A separately identifiable department or division of a bank, as such term is used in section 3(a)(30) of the Act, is that unit of a bank which conducts all of the activities of the bank relating to the conduct of business as a municipal securities dealer (“municipal securities dealer activities”), as such activities are hereinafter defined, provided that:
(1) Such unit is under the direct supervision of an officer or officers designated the board of directors of the bank as responsible for the day-to-day conduct of the bank's municipal securities dealer activities, including the supervision of all bank employees engaged in the performance of such activities; and
(2) There are separately maintained in or separately extractable from such unit's own facilities or the facilities of the bank, all of the records relating to the bank's municipal securities dealer activities, and further provided that such records are so maintained or otherwise accessible as to permit independent examination thereof and enforcement of applicable provisions of the Act, the rules and regulations thereunder and
the rules of the Board. (b) For purposes of this rule, the activities of the bank which shall constitute municipal securities dealer activities are as follows:
(1) underwriting, trading and sales of municipal securities;
(2) financial advisory and consultant services for issuers in connection with the issuance of municipal securities;
(3) processing and clearance activities with respect to municipal securities;
(4) research and investment advise with respect to municipal securities;
(5) any activities other than those specifically enumerated above which involve communication, directly or indirectly, with public investors in municipal securities; and
(6) maintenance of records pertaining to the activities de
scribed in paragraph (1) through (5) above; provided however, that the activities enumerated in paragraphs (4) and (5) above shall be limited to such activities as they relate to the activities enumerated in paragraphs (1) and (2) above.
(c) The fact that directors and senior officers of the bank may from time to time set broad policy guidelines affecting the bank as
a whole and which are not directly related to the day-to-day conduct of the bank's municipal securities dealer activities, shall not disqualify the unit hereinbefore described as a separately identifiable department or division of the bank or require that such directors or officers be considered as part of such unit.
(d) The fact that the bank's municipal securities dealer activities are conducted in more than one geographic organizational or operational unit of the bank shall not preclude a finding that the bank has a separately identifiable department or division for purposes of this rule, provided, however, that all such units are identifiable and that the requirements of subparagraphs (1) and (2) of paragraph (a) of this rule are met with respect to each such unit. All such geographic, organizational or operational units of the bank shall be considered in the aggregate as the separately identifiable department or division of the bank for purposes of this rule.
INDEX TO APPENDIX
[5 U.S.C. 551)..
Definitions from Administrative Procedure
Freedom of Information Act
Privacy Act .....
Sunshine Act ......
Rulemaking under Administrative Proce-
Adjudications under Administrative Pro-
Ancillary matters under Administrative
Hearings, etc., under Administrative
Initial decisions, etc., under Administra-
tive Procedure Act.
Agency actions reviewable by court .....
Postponement of effective date of agency
action pending court review.
Scope of court review of agency action
Exclusive jurisdiction of Commodity Fu-
tures Trading Commission.
Puts, calls, and other options on securities
and groups or indexes of securities; con-
indexes of securities.
Relation of securities laws to securities of
Conferral of standing on SEC in bankrupt-
cy chapter 11 cases.
Disclosure and solicitation after filing of
bankruptcy chapter 11 petition.
certain bankruptcy chapter 11 plans.
Exemption for certain transactions subject
to bankruptcy code.
ferred to in Section 3(a)(6) of Securities
Submissions by SEC to Congress relating to
Sale of bank loans
ferred to in section 12(g)(2)(E) of Securi-
ties Exchange Act.
Exemption for securities of Federal Home
Loan Mortgage Corporation.
Exemption for certain Government Nation-
al Mortgage Association securities.
National Mortgage Association.
INDEX TO APPENDIX—Continued
In general, items appear in the appendix in the order in which they are codified in the
[12 U.S.C. 1723c). ...........
Exemption for securities of Federal Nation- 453
al Mortgage Association and Govern-
ment National Mortgage Association.
Definition of "bank holding company” re- 455
ferred to in section 3(a)(34) of Securities
Right to Financial Privacy Act of 1978........... 460
Reorganization plan transferring Commis- 477
sion functions to Chairman.
Federal Energy Regulatory Commission.
Procedure for granting immunity in cer- 493
tain administrative proceedings.
dent loan program.
Exemption for securities of Asian Develop- 500
Exemption for securities of African Devel- 503
Pension, profit-sharing, and stock bonus 510
cooperatives and corporations organized
section 3(a)(5) of Securities Act.
tion 3(aX5) of Securities Act.
Definition of "fiduciary” referred to in sec- 525
tion 2(15) of Securities Act.
Exemption for corporations organized pur- 526
suant to Alaska Native Claims Settle-
Exemption for obligations of United States 527
"State commission" referred to in section