The Securities and Exchange Commission has announced the adoption of amendments to the net capital, customer protection, books and records, and notification rules for broker-dealers.
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The amendments to the broker-dealer financial responsibility rules are designed to better protect a broker-dealer’s customers and enhance the SEC’s ability to monitor and prevent unsound business practices. The rule amendments were approved by a unanimous Commission vote.
The rule amendments will become effective 60 days after their publication in the Federal Register.
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