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2000 - Rules and Regulations
Subpart S—Applications for a Stay or Review of Actions
of Bank Clearing Agencies
§ 308.400 Scope.
This subpart is issued by the Corporation pursuant to sections
17A(b)(3)(g), 17A(b)(5)(C), 19 and 23 of the Securities Exchange Act of
1934 (Exchange Act), as amended (15 U.S.C.
78q-1(b)(3)(g), (b)(5)(C),
78s,
78w). It applies to
applications by banks insured by the Corporation (other than members of
the Federal Reserve System) for a stay or review of certain actions by
clearing agencies registered under the Exchange Act, for which the
Securities and Exchange Commission (Commission) is not the appropriate
regulatory agency under section 3(a)(34)(B) of the Exchange Act (bank
clearing agencies).
[Codified to 12 C.F.R. § 308.400]
[Section 308.400 added at 61 Fed. Reg. 48403, September
13, 1996, effective October 15, 1996]
§ 308.401 Applications for stays of disciplinary sanctions or
summary suspensions by a bank clearing agency.
Applications to the Corporation for a stay of disciplinary action
imposed by registered clearing agencies pursuant to
section 17(b)(3)(G) of the
Exchange Act, or summary suspension or limitation or prohibition of
access under section 17(b)(5)(C) of the Exchange Act shall be made
according to the rules adopted by the Commission (17 CFR 240.19d--2).
References to the "Commission" in 17 CFR 240.19d--2 are deemed to
refer to the "Corporation."
[Codified to 12 C.F.R. § 308.401]
[Section 308.401 added at 61 Fed. Reg. 48403, September
13, 1996, effective October 15, 1996]
§ 308.402 Applications for review of final disciplinary
sanctions, denials of participation, or prohibitions or limitations of
access to service imposed by bank clearing agencies.
Proceedings on an application to the Corporation under section
19(d)(2) of the Exchange Act for review of any final disciplinary
sanctions, denials of participation, or prohibitions or limitations of
access to service imposed by bank clearing agencies shall be
conducted
{{2-28-01 p.2166.20}}according to the procedures
set forth in rules adopted by the Commission (17 CFR 240.19d--3).
References to the "Commission" in 17 CFR 240.19d--3 are deemed to
refer to the "Corporation."
[Codified to 12 C.F.R. § 308.402]
[Section 308.402 added at 61 Fed. Reg. 48403, September 13, 1996,
effective October 15, 1996]
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