SEC to examine for Basel II compliance, says Donaldson
The Securities and Exchange Commission (SEC) is on course to examine investment bank holding companies (IBHCs) for risk-based capital requirements under the new Basel Accord, also known as Basel II, according to SEC chairman William Donaldson.
The Commission adopted rules (section 17-i of the SEC Act of 1934), which created a new framework for supervising an IBHC. The rules, which became effective on August 20, provide an IBHC with a process to
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