Regulators weigh client info proposal
The SEC is mulling proposed rule changes that would allow brokers to take only certain customer information with them when moving to another broker-dealer or investment advisory firm.
The SEC is mulling proposed rule changes that would allow brokers to take only certain customer information with them when moving to another broker-dealer or investment advisory firm. In addition to providing more specific requirements for safeguarding data and responding to information security breaches, the proposed amendments to Regulation S-P would allow a firm to disclose to another firm a customer’s name, address, phone number, e-mail and a general description of accounts and products held by the customer. Comments were due May 12. For more details, visit sec.gov/rules/proposed/2008/34-57427.pdf.
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