Rescission of Supervised Investment Bank Holding Company Rules

요약

The Securities and Exchange Commission (the "Commission") is rescinding rules under the Securities Exchange Act of 1934 (the "Exchange Act") that established the Commission's program for supervising investment bank holding companies. The Commission is taking this action pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"), which eliminated the applicable section effective July 21, 2011. The Commission also is rescinding certain exemptive provisions in its broker-dealer risk assessment rules and delegation of authority rules that pertain to the supervised investment bank holding company program rules that are being rescinded.