A bill to amend the Securities Exchange Act of 1934 to facilitate the regulation of banking institutions regularly engaged in the business of effecting transactions in securities for the accounts of others.

Defines the term "broker", under the Securities and Exchange Act, to exclude a bank unless it solicits transactions in securities to be effected by the bank as agent for the accounts of others. (Amends 15 U.S.C. 78(c)(4))