Regulatory Alerts2024-04-09
A Banking Corporation’s Activities as a Broker-Dealer
The Banking Supervision Department has extended the implementation deadline for Proper Conduct of Banking Business Directive No. 461, which regulates banking corporations’ operations as broker-dealers. The compliance date is deferred from January 19, 2025, to August 1, 2025, to provide institutions additional preparation time. This temporary relief addresses sector-wide resource and staffing shortages stemming from the ongoing war situation, and the amendment is exempt from standard regulatory impact reporting requirements.
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