The Securities Industry Association (SIA)* provides comments to the Board of Governors of the Federal Reserve System (Federal Reserve) on a proposal and interim rule regarding activities of financial holding companies (FHCs), Docket Nos. R-1092, R-1094.  While SIA supports the Federal Reserve’s effort to allow FHC’s to engage in a broader range of data processing, data storage, and other related activities, they believe the proposal incorporates too many restrictions.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.