The Securities Industry Association (SIA)* provides comments to the Board of Governors of the Federal Reserve System (Federal Reserve) on an interim rule For financial activities, Docket No. R-1062.  The interim rule would implement provisions of Gramm-Leach-Bliley Act (GLB Act) authorizing financial holding companies (FHCs) to engage in activities that are “financial in nature,” including underwriting, dealing and market making.  SIA strongly recommends a list of permissible financial activities included in the interim rule.

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