SEC Final Rule: Rescinds Exemptions for Supervised Investment Bank Holding Companies
The SEC is rescinding Exchange Act Rules 17i-1 to 17i-8 ("Supervised Investment Bank Holding Company Rules") pursuant to the Dodd-Frank Act. The rescinded rules prescribed a framework under which a supervised investment bank holding company ("SIBHC") could elect to be regulated under the SEC. The SEC is also amending 17h1-T to 17h2-T ("Risk Assessment") to eliminate exemptions for broker-dealers associated with SIBHC's.
There were not any firms relying on the 17i framework, and its removal will not have any substantive effect.