SEC: Tougher broker-dealer custody reporting
The SEC proposed amendments to the broker-dealer reporting rule on June 15 that would give the agency a…
The SEC proposed amendments to the broker-dealer reporting rule on June 15 that would give the agency a better handle on whether B-Ds were properly holding their clients’ cash and securities. The agency unanimously issued rules under which all B-Ds would have to file quarterly reports outlining whether they maintained custody of assets and how they did it. Read the proposal here. Read a related story.
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