12 CFR 218.781 – Exemption from the definition of “broker” for banks for a limited period of time
Current as of: 2024 | Check for updates
|
Other versions
A bank is exempt from the definition of the term “broker” under section 3(a)(4) of the Act (15 U.S.C. § 78c(a)(4)) until the first day of its first fiscal year commencing after September 30, 2008.
Terms Used In 12 CFR 218.781
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.