FDIC and SEC Propose Rules to Implement the Provisions for Covered Broker-Dealers under Title II of Dodd-Frank
Following is Davis Polk’s client memorandum on the FDIC’s and the SEC’s proposed rule to implement the provisions applicable to covered broker-dealers under Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Proposed Rule is intended to provide clarity on those provisions, including the roles of the FDIC as receiver and the Securities Investor Protection Corporation as trustee as well as the administration of claims of customers and creditors.
This communication, which we believe may be of interest to our clients and friends of the firm, is for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice. This may be considered attorney advertising in some jurisdictions. Please refer to the firm's privacy notice for further details.
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