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SEC Regs Under Gramm-Leach-Bliley Could Put Small Banks Out of the Retirement Plan Business
Lisa J. Bleier for the American Bankers Association 
June 20, 2001
Excerpt: The Gramm-Leach-Bliley Act removed the exemption for banks from broker-dealer regulations under the federal securities law.... [Recent interim SEC regs], if allowed to remain as written, will result in requiring financial institutions to push-out their IRA and 401(k) business. For larger banks, this may only mean 'pushing-out' to an affiliate ... smaller banks and community banks often do not have an affiliated broker-dealer, and would have to leave the retirement plan business.
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