(a) Stays. The rules adopted by the Securities and Exchange Commission
(SEC) pursuant to section 19 of the Securities Exchange Act of 1934
(15 USC 78s) regarding applications by persons for whom the SEC is
the appropriate regulatory agency for stays of disciplinary sanctions
or summary suspensions imposed by registered clearing agencies (17
CFR 240.19d-2) apply to applications by member banks. References to
the “Commission” are deemed to refer to the Board.
(b) Reviews. The regulations adopted
by the Securities and Exchange Commission pursuant to section 19 of
the Securities and Exchange Act of 1934 (15 USC 78s) regarding applications
by persons for whom the SEC is the appropriate regulatory agency for
reviews of final disciplinary sanctions, denials of participation,
or prohibitions or limitations of access to services imposed by registered
clearing agencies (17 CFR 240.19d-3(a)-(f)) apply to applications
by member banks. References to the “Commission” are deemed to refer
to the Board. The Board’s Uniform Rules of Practice and Procedure
(12 CFR 263) apply to review proceedings under this section 208.33
to the extent not inconsistent with this section 208.33.
