Circular
Regulation Y
January 10, 2001
Circular No. 11307

Finder Activities Are Permissible for FHCs

To All Financial Holding Companies:

The Board of Governors of the Federal Reserve System, after consultation with the Secretary of the Treasury, has determined that acting as a "finder" is an activity that is incidental to a financial activity and, therefore, permissible for a financial holding company.

The announcement was made in a press release dated December 19, 2000. The final rule (pdf - 142kb) was published in the Federal Register of December 22, 2000; it will become effective on January 22, 2001.