Enforcement for bank dealers is performed by all of the following EXCEPT:

• A. Office of the Comptroller of Currency
• B. Federal Reserve Board
• C. Federal Deposit Insurance Corporation
• D. Municipal Securities Rulemaking Board

Answer: (D)

Bank dealers fall under banking regulators, not a municipal-market regulator. The Office of the Comptroller of the Currency oversees national banks, the Federal Reserve Board supervises many banks and bank holding companies, and the FDIC regulates insured banks. In contrast, the Municipal Securities Rulemaking Board writes rules for broker-dealers in the municipal market, but it does not enforce bank-dealer conduct itself; enforcement for MSRB rules rests with the SEC (and FINRA for broker‑dealers). So the entity that does not perform enforcement for bank dealers is the Municipal Securities Rulemaking Board.