Page:United States Statutes at Large Volume 107 Part 3.djvu/414

 107 STAT. 2352 PUBLIC LAW 103-202—DEC. 17, 1993 "(4) No government securities broker or government securities dealer that is required to register under paragraph (1)(A) and that is not a member of the Securities Investor Protection Corporation shall effect any transaction in any security in contravention of such rules as the Commission shall prescribe pursuant to this subsection to assure that its customers receive complete, accurate, and timely disclosure of the inapplicability of Securities Investor Protection Corporation coverage to their accounts.". SEC. 109. TECHNICAL AMENDMENTS. (a) AMENDMENTS TO DEFINITIONS. —Section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)) is amended— (1) in paragraph (34)(G) (relating to the definition of appropriate regulatory agency), by amending clauses (ii), (iii), and (iv) to read as follows: "(ii) the Board of Governors of the Federal Reserve System, in the case of a State miember bank of the Federal Reserve System, a foreign bank, an uninsured State branch or State agency of a foreign bank, a commercial lending company owned or controlled by a foreign beuik (as such terms are used in the International Banking Act of 1978), or a corporation orga- ^'^, nized or having an agreement with the Board of (Jov- ':' emors of the Federal Reserve System pursuant to section 25 or section 25A of the Federal Reserve Act; "(iii) the Federal Deposit Insurance Corporation, '** in the case of a bank insured by the Federal Deposit Insurance Corporation (other than a member of the Federal Reserve System or a Federal savings bank) ., or an insured State branch of a foreign bank (as such ' terms are used in the International Banking Act of 1978); "(iv) the Director of the Office of Thrift Supervision, in the case of a savings association (as defined in section 3(b) of the Federd Deposit Insurance Act) the deposits of which aie insured by the Federal Deposit Insurance Corporation;"; (2) by amending paragraph (46) (relating to the definition "'-'^ of financial institution) to read as follows: "(46) The term 'financial institution' means— "(A) a bank (as defined in paragraph (6) of this subsection); "(B) a foreign bank (as such term is used in the Interj, national Banking Act of 1978); and "(C) a savings association (as defined in section 3(b) - are insured by the Federal Deposit Insurance Corporation."; and (3) by redesignating paragraph (51) (as added by section 204 of the International Securities Enforcement Cooperation Act of 1990) as paragraph (52). (b) EFFECTIVE DATE OF BROKER/DEALER REGISTRATION.— (1) (JOVERNMENT SECURITIES BROKERS AND DEALERS.— Section 15C(a)(2)(ii) of the Securities Exchange Act of 1934 (15 U.S.C. 78o-5(a)(2)(ii)) is amended by inserting before "The Commission may extend" the following: "The order granting registration shall not be effective until such government securi-
 * of the Federal Deposit Insurance Act) the deposits of which

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