12 C.F.R. Subpart S—Applications for a Stay or Review of Actions of Bank Clearing Agencies
Title 12 - Banks and Banking
Source: 61 FR 48403, Sept. 11, 1996, unless otherwise noted.
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). 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.” 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 services imposed by bank clearing agencies shall be conducted 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.”
Title 12: Banks and Banking
PART 308—RULES OF PRACTICE AND PROCEDURE
Subpart S—Applications for a Stay or Review of Actions of Bank Clearing Agencies
§ 308.400 Scope.
§ 308.401 Applications for stays of disciplinary sanctions or summary suspensions by a bank clearing agency.
§ 308.402 Applications for review of final disciplinary sanctions, denials of participation, or prohibitions or limitations of access to services imposed by bank clearing agencies.
