FPA awaits appeals court ruling
The future of the SEC’s controversial broker exemption regulation now rests in the hands of a federal appeals court.
The future of the SEC’s controversial broker exemption regulation now rests in the hands of a federal appeals court. In early October the Denver-based Financial Planning Association, which sued the SEC over its 2005 rule that exempts certain brokers from registering as advisers, argued its case before the U.S. Court of Appeals for the District of Columbia Circuit. No specific date is set for the court to release its opinion. To track the lawsuit’s progress, visit http://www.fpanet.org/member/govt_relation/lawsuit-against-sec-broker-dealer-rule.cfm
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