Sole Proprietorships – Not a ‘”Company” Under Regulation W

Regulation W applies to transactions between a bank and its affiliates, but the definition of “affiliate” requires that the counterparty be a “company.” This raises a fundamental question: what qualifies as a company for Regulation W purposes? The answer excludes sole proprietorships – a sole proprietorship is not a company for purposes of Regulation W. … Continue reading “Sole Proprietorships – Not a ‘”Company” Under Regulation W”