Government Securities Sales Practices — 1996-04-25 [96-9919]

The Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC)(collectively, Federal banking agencies or agencies) are requesting comment on a proposed rule regarding the responsibilities of banks that are government securities brokers or dealers with respect to sales practices concerning government securities. The proposed rule would establish standards concerning the recommendations to customers and the conduct of business by a bank that is a government securities broker or dealer. The agencies also propose to adopt an interpretation concerning recommendations to institutional customers with respect to government securities transactions.