Source: http://www.law.cornell.edu/cfr/text/17/248.3
Timestamp: 2014-10-25 09:03:29
Document Index: 200864729

Matched Legal Cases: ['art 248', '§ 248', '§ 32', '§ 32', '§ 78', '§ 32', '§ 78', '§ 78', '§ 79', '§ 79', '§ 79', '§ 79', '§ 1681', '§ 1681', '§ 1502', '§ 1681', '§ 1502', '§ 6801', '§ 6802', '§ 6803', '§ 6804', '§ 6805', '§ 6806', '§ 6807', '§ 6808', '§ 6809', '§ 6825']

17 CFR 248.3 - Definitions. | LII / Legal Information Institute
CFR › Title 17 › Chapter II › Part 248 › Subpart A › Section 248.3 17 CFR 248.3 - Definitions.
§ 248.3
Affiliate of a broker, dealer, or investment company, or an investment adviser registered with the Commission means any company that controls, is controlled by, or is under common control with the broker, dealer, or investment company, or investment adviser registered with the Commission. In addition, a broker, dealer, or investment company, or an investment adviser registered with the Commission will be deemed an affiliate of a company for purposes of this subpart if:
That company is regulated under Title V of the GLBA by the Federal Trade Commission or by a Federal functional regulator other than the Commission; and
Rules adopted by the Federal Trade Commission or another federal functional regulator under Title V of the GLBA treat the broker, dealer, or investment company, or investment adviser registered with the Commission as an affiliate of that company.
Broker has the same meaning as in section 3(a)(4) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(4)).
Use distinctive type size, style, and graphic devices, such as shading or sidebars when you combine your notice with other information.
Examples. (i) An individual is your consumer if he or she provides nonpublic personal information to you in connection with obtaining or seeking to obtain brokerage services or investment advisory services, whether or not you provide brokerage services to the individual or establish a continuing relationship with the individual.
An individual is not your consumer if he or she provides you only with his or her name, address, and general areas of investment interest in connection with a request for a prospectus, an investment adviser brochure, or other information about financial products or services.
An individual is not your consumer if he or she has an account with another broker or dealer (the introducing broker-dealer) that carries securities for the individual in a special omnibus account with you (the clearing broker-dealer) in the name of the introducing broker-dealer, and when you receive only the account numbers and transaction information of the introducing broker-dealer's consumers in order to clear transactions.
If you are an investment company, an individual is not your consumer when the individual purchases an interest in shares you have issued only through a broker or dealer or investment adviser who is the record owner of those shares.
The consumer has a brokerage account with you, or if a consumer's account is transferred to you from another broker-dealer;
The consumer has an investment advisory contract with you (whether written or oral);
The consumer is the record owner of securities you have issued if you are an investment company;
The consumer holds an investment product through you, such as when you act as a custodian for securities or for assets in an Individual Retirement Arrangement;
The consumer purchases a variable annuity from you;
The consumer has an account with an introducing broker or dealer that clears transactions with and for its customers through you on a fully disclosed basis;
You regularly effect or engage in securities transactions with or for a consumer even if you do not hold any assets of the consumer.
No continuing relationship. A consumer does not, however, have a continuing relationship with you if you open an account for the consumer solely for the purpose of liquidating or purchasing securities as an accommodation, i.e., on a one time basis, without the expectation of engaging in other transactions.
Dealer has the same meaning as in section 3(a)(5) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(5)).
GLBA means the Gramm-Leach-Bliley Act (Pub. L. No. 106-102, 113 Stat. 1338 (1999)).
Investment company has the same meaning as in section 3 of the Investment Company Act of 1940 (15 U.S.C. 80a-3), and includes a separate series of the investment company.
Nonaffiliated third party includes any company that is an affiliate solely by virtue of your or your affiliate's direct or indirect ownership or control of the company in conducting merchant banking or investment banking activities of the type described in section 4(k)(4)(H) or insurance company investment activities of the type described in section 4(k)(4)(I) of the Bank Holding Company Act (12 U.S.C. 1843(k)(4)(H) and (I)).
Any list, description, or other grouping of consumers (and publicly available information pertaining to them) that is derived without using any personally identifiable financial information that is not publicly available information.
Examples—(i) Reasonable belief. (A) You have a reasonable belief that information about your consumer is made available to the general public if you have confirmed, or your consumer has represented to you, that the information is publicly available from a source described in paragraphs (v)(1)(i)-(iii) of this section;
You have a reasonable belief that information about your consumer is made available to the general public if you have taken steps to submit the information, in accordance with your internal procedures and policies and with applicable law, to a keeper of federal, State, or local government records that is required by law to make the information publicly available.
You have a reasonable belief that an individual's telephone number is lawfully made available to the general public if you have located the telephone number in the telephone book or the consumer has informed you that the telephone number is not unlisted.
You do not have a reasonable belief that information about a consumer is publicly available solely because that information would normally be recorded with a keeper of federal, State, or local government records that is required by law to make the information publicly available, if the consumer has the ability in accordance with applicable law to keep that information nonpublic, such as where a consumer may record a deed in the name of a blind trust.
Any investment company; and
Any investment adviser registered with the Commission under the Investment Advisers Act of 1940.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.United States CodeU.S. Code: Title 15 - COMMERCE AND TRADE15 U.S. Code § 32, 33 - Repealed.15 U.S. Code § 32, 33 - Repealed.§ 78q - Records and reports15 U.S. Code § 32, 33 - Repealed.§ 78w - Rules, regulations, and orders; annual reports§ 78mm - General exemptive authority15 U.S. Code § 79 to 79z–6 - Repealed.15 U.S. Code § 79 to 79z–6 - Repealed.15 U.S. Code § 79 to 79z–6 - Repealed.15 U.S. Code § 79 to 79z–6 - Repealed.§ 1681m - Requirements on users of consumer reports§ 1681s - Administrative enforcement15 U.S. Code § 1502, 1503 - Omitted§ 1681w - Disposal of records15 U.S. Code § 1502, 1503 - Omitted§ 6801 - Protection of nonpublic personal information§ 6802 - Obligations with respect to disclosures of personal information§ 6803 - Disclosure of institution privacy policy§ 6804 - Rulemaking§ 6805 - Enforcement§ 6806 - Relation to other provisions§ 6807 - Relation to State laws§ 6808 - Study of information sharing among financial affiliates§ 6809 - Definitions§ 6825 - Agency guidance