A broker-dealer authorized to engage in securities underwriting, dealing, or market-making may, under certain circumstances, be acquired by a bank holding company, by a foreign bank subject to the Bank Holding Company Act, or by a state member bank. The resulting subsidiaries and the institutions owning them are listed here under the following categories:
Section 20 Subsidiaries
As of March 31, 2011
| Section 20 subsidiary | Parent organization | FR District | Date of initial approval |
|---|---|---|---|
| BBVA Securities, Inc. | Banco Bilbao Vizcaya Argentaria, S.A. | Atlanta | 3/1998 |
Section 4(k)(4)(E) Securities Subsidiaries
As Of December 19, 2013
| Company | Location | District |
|---|---|---|
| ANZ Securities, Inc. | Australia and New Zealand Banking Group Limited | New York |
| Banca IMI Securities Corp. | Intesa SanPaolo S.p.A. | New York |
| Banco do Brasil Securities LLC | Banco do Brasil S.A. | New York |
| Barclays Capital, Inc. | Barclays PLC | New York |
| BMO Capital Markets Corp. | Bank of Montreal | Chicago |
| BNP Paribas Investment Services, LLC | BNP Paribas | New York |
| BNP Paribas Securities Corp. | BNP Paribas | New York |
| BNY Mellon Capital Markets, LLC | Bank of New York Mellon Corp., The | New York |
| BOSC, Inc. | BOK Financial Corp. | Kansas City |
| Capital Financial Services, INC. | HSBC Holdings PLC | Chicago |
| Capital One Southcoast, Inc. | Capital One Financial Corp. | Richmond |
| Chase Investment Services Corp. | JPMorgan Chase & Co. | New York |
| CIBC World Markets Corp. | Canadian Imperial Bank of Commerce | New York |
| Citigroup Global Markets, Inc. | Citigroup, Inc. | New York |
| Commerz Markets LLC | Allianz SE | New York |
| Conservative Financial Services, Inc. | First State Bancshares, Inc. | St. Louis |
| Credit Agricole Securities (USA) Inc. | F�d�ration Nationale du Cr�dit Agricole (FNCA) | New York |
| Credit Suisse Securities (USA), LLC | Credit Suisse Group | New York |
| Crews and Associates, Inc. | First Security Bancorp | St. Louis |
| Deutsche Bank Securities, Inc. | Deutsche Bank Aktiengesellschaft | New York |
| DnB NOR Nor Markets, Inc. | DnB NOR ASA | New York |
| DZ Financial Markets, LLC | DZ Bank AG | New York |
| Epoch Securities, Inc. | Goldman, Sachs Group, The | New York |
| FBT Investments, Inc. | First Trust Corporation | Atlanta |
| First National Capital Markets, Inc. | Lauritzen Corp. | Kansas City |
| Goldman Sachs Execution & Clearing, L.P. | Goldman, Sachs Group, The | New York |
| Goldman Sachs JBWere Inc. | Goldman, Sachs Group, The | New York |
| Goldman, Sachs and Company | Goldman, Sachs Group, The | New York |
| H.D. Vest Investment Securities, Inc. | Wells Fargo & Company | San Francisco |
| HSBC Securities (USA), Inc. | HSBC Holdings PLC | Chicago |
| HSH N Financial Securities, LLC | HSH NORDBANK AG | New York |
| Iberia Capital Partners L.L.C. | Iberiabank Corp | Atlanta |
| ICICI Securities | ICICI Bank Limited | New York |
| Ita� Europa Securities Inc. | Ita�sa Investimentos Ita� S.A. | Atlanta |
| Ita� Securities, Inc. | Ita�sa - Investimentos Ita� S.A. | Atlanta |
| J.P. Morgan Securities, Inc. | JPMorgan Chase & Co. | New York |
| KBC Financial Products USA, Inc. | Cera Ancora VZW | New York |
| KeyBanc Capital Markets | Keycorp | Cleveland |
| Lloyds Securities Inc. | Lloyds Banking Group PLC | New York |
| M&I Financial Advisors, Inc. | Marshall & Ilsley Corporation | Chicago |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | Bank of America Corp. | Richmond |
| Mitsubishi UFJ Securities (USA), Inc. | Mitsubishi UFJ Financial Group | San Francisco |
| Mizuho Securities USA Inc. | Mizuho Financial Group, Inc. | New York |
| Morgan Stanley & Co. Incorporated | Morgan Stanley | New York |
| Morgan Stanley Smith Barney, LLC | Citigroup, Inc. | New York |
| Morgan, Keegan & Company, Inc. | Regions Financial Corp. | Atlanta |
| National Bank of Canada Financial, Inc. | National Bank of Canada | New York |
| Natixis Bleichroeder LLC | BPCE | New York |
| Natixis Securities North America, Inc. | BPCE | New York |
| Newedge USA, LLC | Soci�t� G�n�rale | New York |
| Northern Trust Securities, Inc. | Northern Trust Corporation | Chicago |
| Oriental Financial Services Corp. | Oriental Financial Group Inc. | New York |
| Pershing Advisor Solutions, LLC | Bank of New York Mellon Corp., The | New York |
| Pershing, LLC | Bank of New York Mellon Corp., The | New York |
| Popular Securities, Inc. | Popular, Inc. | New York |
| Rabo Securities USA, Inc. | Co�peratieve Centrale Raiffeisen-Boerenleenbank B.A.,"Rabobank Nederland" | New York |
| RBC Capital Markets Corp. | Royal Bank of Canada | Richmond |
| RBS Securities, Inc. | UK Financial Investments Limited (UKFI) | Boston |
| Santander Investment Securities, Inc. | Banco Santander, S.A. | New York |
| Santander Securities Corp. | Banco Santander, S.A. | New York |
| Scotia Capital (USA), Inc. | Bank of Nova Scotia, The | New York |
| Scott & Stringfellow, Inc. | BB&T Corp. | Richmond |
| SG Americas Securities, LLC | Soci�t� G�n�rale | New York |
| Stifel Nicolaus & Company, Inc. | Stifel Financial Corp. | St. Louis |
| SunTrust Investment Services, Inc. | SunTrust Banks, Inc. | Atlanta |
| SunTrust Robinson Humphrey, Inc. | SunTrust Banks, Inc. | Atlanta |
| Synovus Securities, Inc. | Synovus Financial Corp. | Atlanta |
| TD Ameritrade Clearing, Inc. | Toronto-Dominion Bank, The | New York |
| TD Ameritrade Inc. | Toronto-Dominion Bank, The | New York |
| TD Securities (USA), LLC | Toronto-Dominion Bank, The | New York |
| The Huntington Investment Company | Huntington Bancshares Incorporated | Cleveland |
| Thomas Weisel Partners LLC | Stifel Financial Corp. | St. Louis |
| U.S. Bancorp Investments, Inc. | U.S. Bancorp | Minneapolis |
| UBS Financial Services, Inc. | UBS AG | New York |
| UBS Securities, LLC | UBS AG | New York |
| Umpqua Investments, Inc. | Umpqua Holdings Corp. | San Francisco |
| Wayne Hummer Investments, LLC | Wintrust Financial Corp. | Chicago |
| Wells Fargo Advisors Financial Network, LLC | Wells Fargo & Company | San Francisco |
| Wells Fargo Advisors, LLC | Wells Fargo & Company | San Francisco |
| Wells Fargo Institutional Securities, LLC | Wells Fargo & Company | San Francisco |
| Wells Fargo Securites, LLC | Wells Fargo & Company | San Francisco |
Financial Subsidiaries (Securities) of State Member Banks
As of March 31, 2011
| Financial Subsidiaries of State Member Banks | Parent Bank | FR District |
|---|---|---|
| Comerica Securities, Inc. | Comerica Bank | Dallas |
| Fifth Third Securities, Inc. | Fifth Third Bank | Cleveland |