Exceptions.

CFR · 2024-01-01 · US · Title 12

(a) An FDIC-supervised institution effecting securities transactions for customers is not subject to all or part of this part 344 to the extent that they qualify for one or more of the following exceptions: (1) (2) (3) (4) (5) (A) The broker/dealer is fully disclosed to the customer; and (B) The customer has a direct contractual agreement with the broker/dealer. (ii) This exemption extends to arrangements with broker/dealers which involve FDIC-supervised institution employees when acting as employees of, and subject to the supervision of, the registered broker/dealer when soliciting, recommending, or effecting securities transactions. (b)

official document · source cfr-2024 · id 12:§ 344.2