What can a bank do if it needs additional time to bring its activities into conformity with the bank dealer exceptions and exemptions?
Answer #4: As the Commission noted in adopting the final dealer rules, individual banks may have specific transactions in progress for which they may need an extension of the implementation date of these rules. Banks in this situation should contact SEC’s staff to determine if specific relief may be available to them. Each bank’s situation will be considered on a case-by-case basis for specified transactions for which a demonstrated burden could be avoided or alleviated through a reasonably short extension of the compliance date, or during any period when additional specific exemption requests are being considered.
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