Notice By Financial Institutions
of Termination of Activities as a Government
Securities Broker or Government Securities Dealer
A financial institution that intends to engage in broker or dealer activities must notify its regulator by using the Notice by Financial Institutions of Government Securities Broker or Government Securities Dealer Activities (Form G-FIN). This notice collects the institution's identifying information and the names and titles of its managers of government securities activities; the notice requires the institution to state whether any person associated with the respondent's government securities activities has been involved in disciplinary proceedings related to securities sales. A financial institution that intends to cease engaging in broker or dealer activities must notify its regulator by using the Notice by Financial Institutions of Termination of Activities as a Government Securities Broker or Government Securities Dealer (Form G-FINW).
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The federal banking regulatory agencies use the information in the Notices to enforce regulations applicable to brokers and dealers at financial institutions on behalf of the U.S. Department of the Treasury.
The Government Securities Act of 1986 (the Act) requires financial institutions to notify their appropriate regulatory authority (ARA) of their intent to engage in government securities broker or dealer activity, to amend information submitted previously, and to record their termination of such activity. The Act established for the first time federal regulation of brokers and dealers of government securities, including banks and other financial institutions. Since July 25, 1987, all financial institutions that serve as government securities brokers and government securities dealers have been required to notify their federal ARA of such activities.
State member banks, foreign banks, uninsured state branches or state agencies of foreign banks, commercial lending companies owned or controlled by foreign banks, and Edge Act corporations. Reporting is required.
The notices are available to the public upon request. The data are not published.