[Federal Register Volume 62, Number 82 (Tuesday, April 29, 1997)]
[Notices]
[Page 23244]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-11042]
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FEDERAL RESERVE SYSTEM
Notice to Engage in Certain Nonbanking Activities
Commerzbank AG, Frankfurt am Main, Germany (Notificant), has
provided notice pursuant to section 4(c)(8) of the Bank Holding Company
Act, 12 U.S.C. Sec. 1843(c)(8)), and Sec. 225.24 of the Board's
Regulation Y (12 CFR 225.24), to acquire through its wholly owned
subsidiary, CAM Acquisition, LLC, Wilmington, Delaware, substantially
all the assets of Montgomery Asset Management, L.P. (Partnership),
including a membership interest in Montgomery Services, LLC, a
subsidiary of Partnership, both in San Francisco, California, and
thereby engage in the following nonbanking activities: (1) providing
securities brokerage services and acting as agent for the private
placement of securities, pursuant to 12 CFR 225.28(b)(7)(i) and (iii)
of the Board's Regulation Y; (2) providing financial and investment
advisory services, pursuant to 12 CFR 225.28(b)(6) of the Board's
Regulation Y; and (3) providing administrative services to open-end
investment companies (mutual funds), see Mellon Bank Corporation, 79
Fed. Res. Bull. 626 (1993); Bank of Ireland, 82 Fed. Res. Bull. 1129
(1996). Notificant would engage in these activities in accordance with
most of the limitations and conditions established by the Board by
regulation or order with certain exceptions relating to the proposed
provision of advisory and administrative services to mutual funds, as
set forth in the notice. These activities will be conducted worldwide.
Unless otherwise noted, comments regarding this application must be
received at the Federal Reserve Bank of New York or the offices of the
Board of Governors not later than May 14, 1997.
Board of Governors of the Federal Reserve System, April 24,
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-11042 Filed 4-28-97; 8:45 am]
BILLING CODE 6210-01-F
