[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