Gramm-Leach-Bliley Act
September 29, 2011President Clinton signed the Gramm-Leach-Bliley Act (“Act”) into law November 12, 1999. The Act repeals the 66-year old Glass-Steagall Act, which prohibited banks, securities firms and insurance companies from affiliating. The following is a brief summary of the key provisions of interest to the securities industry. Affiliation: The Act...