[Federal Register Volume 61, Number 73 (Monday, April 15, 1996)]
[Notices]
[Pages 16502-16503]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-9206]
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FEDERAL RESERVE SYSTEM
Waterhouse Investor Services
Notice to Engage in Nonbanking Activities
Waterhouse Investor Services, New York, New York (Notificant), has
given notice pursuant to section 4(c)(8) of the Bank Holding Company
Act (12 U.S.C. 1843(c)(8)) (BHC Act) and Sec. 225.23(a)(3) of the
Board's Regulation Y (12 CFR 225.23(a)(3)), to indirectly acquire 50
percent of the voting shares of Marketware International, Inc.,
Holmdel, New Jersey (Company), and thereby develop and sell computer
software products to facilitate the purchase and sale of securities by
customers using personal computers pursuant to section 225.25(b)(7) of
the Board's Regulation Y (12 CFR 225.25(b)(7)). Company would, inter
alia, provide software to permit customers to place ``buy'' or ``sell''
orders with Waterhouse Securities, Inc., an affiliated broker-dealer,
over the non-proprietary computer network known as the Internet.
Notificant seeks approval to conduct the proposed activities
nationwide.
Section 4(c)(8) of the BHC Act provides that a bank holding company
may, with Board approval, engage in any activity ``which the Board
after due notice and opportunity for hearing has determined (by order
or regulation) to be so closely related to banking or managing or
controlling banks as to be a proper incident thereto.'' 12 U.S.C.
1843(c)(8).
In publishing the proposal for comment, the Board does not take a
position on issues raised by the proposal. Notice of the proposal is
published solely in order to seek the views of interested persons on
the issues presented by the notice, and does
[[Page 16503]]
not represent a determination by the Board that the proposal meets or
is likely to meet the standards of the BHC Act.
Any comments or requests for hearing should be submitted in writing
and received by William W. Wiles, Secretary, Board of Governors of the
Federal Reserve System, Washington, D.C. 20551, not later than April
26, 1996. Any request for a hearing on this proposal must, as required
by section 262.3(e) of the Board's Rules of Procedure (12 CFR
262.3(e)), be accompanied by a statement of the reasons why a written
presentation would not suffice in lieu of a hearing, identifying
specifically any questions of fact that are in dispute, summarizing the
evidence that would be presented at a hearing, and indicating how the
party commenting would be aggrieved by approval of the proposal. The
notice may be inspected at the offices of the Board of Governors or the
Federal Reserve Bank of New York.
Board of Governors of the Federal Reserve System, April 9, 1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-9206 Filed 4-12-96; 8:45 am]
BILLING CODE 6210-01-F
