NEW YORK - The first rules spawned by the new financial reform law could be proposed as early as next week, regulators said Tuesday.

The Federal Reserve Board plans to release a proposal in the next week or so that would detail how to apply to become a financial holding company under the Gramm-Leach-Bliley Act, J. Virgil Mattingly Jr., the central bank's general counsel, said during a Securities Industry Association conference on the new law's impact.

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