Source: https://www.fdic.gov/regulations/laws/rules/2000-2700.html
Timestamp: 2019-09-22 08:46:20
Document Index: 57997983

Matched Legal Cases: ['§ 308', '§ 308', '§ 308', '§ 308', '§ 308', '§ 308', '§ 308', '§ 308']

Subpart I—Rules and Procedures for Imposition of Sanctions
Upon Municipal Securities Dealers or Persons Associated With Them
and Clearing Agencies or Transfer Agents
§ 308.134 Scope.
The rules and procedures in this subpart, subpart B of the Local Rules and the Uniform Rules shall apply to proceedings by the Board of Directors or its designee:
(a) To censure, limit the activities of, suspend, or revoke the registration of, any municipal securities dealer for which the FDIC is the appropriate regulatory agency;
(b) To censure, suspend, or bar from being associated with such a municipal securities dealer, any person associated with such a municipal securities dealer; and
(c) To deny registration, to censure limit the activities of, suspend, or revoke the registration of, any transfer agent or clearing agency for which the FDIC is the appropriate regulatory agency. This subpart and the Uniform Rules shall not apply to proceedings to postpone or suspend registration of a transfer agent or clearing agency pending final determination of denial or revocation of registration.
[Codified to 12 C.F.R. § 308.134]
[Codified to 12 C.F.R. § 308.135]
§ 308.136 Notice to and consultation with the Securities and Exchange Commission.
Before initiating any proceedings under § 308.135, the FDIC shall:
(a) Notify the Securities and Exchange Commission of the identity of the municipal securities dealer or associated person against whom proceedings are to be initiated, and the nature of and basis for the proposed action; and
(b) Consult with the Commission concerning the effect of the proposed action on the protection of investors and the possibility of coordinating the action with any proceeding by the Commission against the municipal securities dealer or associated person.
[Codified to 12 C.F.R. § 308.136]
§ 308.137 Effective date of order imposing sanctions.
An order issued by the Board of Directors after a hearing or an order issued upon default shall become effective at the expiration of 30 days after the service of the order, except that an order of censure, denial, or revocation of registration is effective when served. An order issued upon consent shall become effective at the time specified therein. All orders shall remain effective and enforceable except to the extent they are stayed, modified, terminated, or set aside by the Board of Directors, its designee, or a reviewing court, provided that orders of suspension shall continue in effect no longer than 12 months.
[Codified to 12 C.F.R. § 308.137]