National American Securities Administrators Association’s Sales of Securities at Financial Institutions

The State Regulation and Legislation, Bank Retail Broker-Dealer and Financial Institutions Services Steering Committees of the Securities Industry Association (SIA)* provide comments to the Texas State Securities Board on the National American Securities Administrators Association’s (NASAA’s) proposed Model Rules for Sales of Securities at Financial Institutions (Model Rules).  The Model Rules outline certain regulatory principles for service arrangements between broker-dealers and financial institutions.  The Model Rules also include definitions of confidential information, financial institution, and participating broker-dealer.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.