The Securities Industry Association (SIA)* provides comments to the Board of Governors of the Federal Reserve System on the release, Revenue Limit on Bank-Ineligible Activities of Subsidiaries of Bank Holding Companies Engaged in Underwriting and Dealing Securities, Docket No. R-0841.  The Board proposes to increase the revenue limit from 10 percent to 25 percent.  SIA offers its observations and recommendations regarding the proposal.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.