Securities Law Updates | New Releases/No Action Letters
August 9, 2010
SEC Publishes Public Request for Comment to Inform Study of Obligations of Broker-Dealers and Investment Advisers
Study Regarding Obligations of Brokers, Dealers, and Investment Advisers
Release No. 34-62577; IA-3058; File No. 4-606, 7/27/2010
The Securities and Exchange Commission (“SEC,” or “Commission”) has published a request for public comment to inform its study of the obligations and standards of care of broker-dealers and investment advisers providing personalized investment advice about securities to retail investors.
The study is required under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which President Obama signed into law on July 21, 2010.
As required by the Dodd-Frank Act, the SEC is requesting public input, comments, and data on issues related to the effectiveness of existing standards of care for brokers-dealers and investment advisers, and whether there are…
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