Federal Reserve Board Extends Comment Period For Foreign Bank Rule


On February 22, the Federal Reserve Board, citing the “range and complexity of the issues addressed in the rulemaking,” as well as a “request from the public” for more time, extended the public comment period from March 31, 2013 until April 30, 2013 pertaining to its proposal to (i) enhance its oversight of certain foreign banks that operate in the U.S., and (ii) move from the SEC to the Federal Reserve oversight of foreign bank broker-dealers.

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