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The GLBA lowers although does not altogether eliminate barriers between the banking and securities industries erected by the Banking Act of popularly known as the "Glass-Steagall Act" 4 and between the banking and the insurance industries erected by the amendments to the Bank Holding Company Act of the "Bank Holding Company Act".
Over the past 60 years, however, evolution of the financial markets driven by competition and technology eroded the separation that previously existed between banks, insurance companies, and securities firms. Regulators responded to these changes with interpretations that increasingly sought to accommodate the market changes.
Beginning in the s, these developments, coupled with arguments for competitive equality both domestically and internationally, spurred Congressional action. Congress considered major restructuring of legal restrictions preventing financial services firms from offering a full array of products, while at the same time maintaining the successful system of functional regulation of securities, insurance, and banking that existed under that framework.
Sections and of the GLBA substantially amended the Exchange Act's definitions of "broker" and "dealer," respectively. Before the amendment, Sections 3 a 4 and 3 a 5 of the Exchange Act provided that the terms "broker" and "dealer" did not include a "bank.
In particular, the amended definitions create 11 "broker" and 4 "dealer" exceptions for banks. Three of these exceptions are similar for both "broker" and "dealer. Trust and fiduciary activities: Other Exceptions From "Broker" Definition: Third party brokerage arrangements: Certain stock purchase plans: Safekeeping and custody activities: Other Exception From "Dealer" Definition: In recent weeks, we have received an increasing number of inquiries regarding how we will interpret some of the terms in the new specific functional exceptions.
In response to interpretive questions that have arisen, we are adopting, as interim final rules, 15 new Exchange Act Rules 3b and 3b Rule 3b also provides legal certainty to banks regarding the availability of the fiduciary activities exception when they act as indenture trustees or as trustees for tax-deferred accounts.
New Rule 3b defines terms for the exception from the definition of dealer for banks that sell asset-backed securities.
Apprenticeship frameworks for supporting teaching and learning in schools – ERR workbook Apprenticeships for supporting teaching and learning in schools Employee rights and responsibilities (ERR) workbook. • TDA Schools as organisations A// Y// – CYP Core Understand how to safeguard the wellbeing of Children and Young People Y// 1. Understand the main Legislation, guidelines, policies and procedures for safeguarding Children and Young People. Safeguarding and Protection. 3 Describe factors that may contribute to an individual being more vulnerable to abuse There are certain factors that have the potential to make individuals more vulnerable to leslutinsduphoenix.com include: Not enough trained staff Staff being under stress/personal issues Mental awareness of individual i.e. dementia Greed of the carer If the carer was abused themselves; may.
To alleviate concerns that have been expressed to us in recent months, we also grant five exemptions under which banks may effect transactions in securities without being registered as broker-dealers.
New Rule 3a responds to concerns banks have expressed about calculating the compensation condition in the trust and fiduciary activities exception.
New Rule 3a allows banks to effect transactions as indenture trustees in no-load money market funds without meeting the "chiefly compensated" condition in the trust and fiduciary activities exception.
New Rule 3a provides a conditional exemption to allow small banks to effect transactions in investment company securities held in tax-deferred custody accounts and to be compensated for this brokerage activity.
Small banks may not rely this exemption if they are affiliated with, or have networking arrangements with, registered broker-dealers. New Rule 3a conditionally exempts all banks that effect transactions in securities for custody accounts without, directly or indirectly, receiving compensation for providing this service.TDA Safeguarding the welfare of children and young people.
Introduction Safeguarding the welfare of children and young people is a high priority in the workplace, and certain actions and procedures must be followed to ensure the safety of all children, both inside and outside of school.
CACHE Level 2 Certificate for the Children and Young People Workforce (QCF) Section 3: Documents Useful documents context of safeguarding.
Describe the roles and Assessment task - TDA Support children and young people’s play and leisure. Readbag users suggest that leslutinsduphoenix.com is worth reading.
The file contains 89 page(s) and is free to view, download or print. TDA Safeguarding the welfare of children and young people Task Identify current legislation, guidelines, policies and procedures for safeguarding the welfare of children and young people including e-safety/5(1).
Apprenticeship frameworks for supporting teaching and learning in schools – ERR workbook Apprenticeships for supporting teaching and learning in schools Employee rights and responsibilities (ERR) workbook. • TDA Schools as organisations A// Effects of transitions • Children and young people need to be supported.
Title: PowerPoint Presentation Author: Melissa Brunelli Created Date: 7/3/ PM.