Regulatory Alerts2019-07-01
Added · Updated
Proposed: 1103 Instructions for Preparation of Franchise Tax
The State Bank Commissioner proposes to amend Regulations 1103 and 1110 to clarify the definition of the term "Securities Business" for banking organizations and trust companies. The proposal specifies that a subsidiary that is a bank or insured institution, as defined in the federal Bank Holding Company Act, is not considered engaged in the sale, distribution, or underwriting of securities. This public notice invites interested parties to submit comments on the proposed amendments on or before August 2, 2019.
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