Rather, the review of the bank exception was undertaken to address a concern that, if the blanket exception for banks was retained at the same time that the barriers hindering the affiliation of banks and securities broker-dealers were removed, securities firms might acquire a bank and move the securities activities of the broker-dealer into the bank in order to avoid SEC supervision and regulation.
As institutions have expanded their use of integrated systems to support business operations, the potential for single points of failure has increased. In response, the banking supervisors have issued more detailed guidance on contingency planning, including managing information technology risk, information security, outsourcing, and network management. Examiners regularly assess the adequacy of business continuity plans.