SEC Re-Opens Broker-Dealer Proposal Comment Period
After a five-year quiet period on proposed amendments involving notification rules for broker-dealers, the Securities and Exchange Commission is again seeking feedback.
On May 3, the agency said it re-opened the public comment period for proposed amendments to its net capital, customer protection, and books and records for broker-dealers.
The proposed amendments are designed to address several areas of concern regarding the financial requirements for broker-dealers, according to the SEC. They also would update the financial responsibility rules and make certain technical amendments.
The SEC said it issued the proposed amendments on March 9, 2007, and the public comment period on the proposal closed on June 18, 2007.
However, the agency did not act on the rule amendments. The SEC said given economic events, regulatory developments, and passage of time since then, as well as the continuing public interest in this area, it believes that it would be appropriate to seek additional public comment on the proposed rule amendments.
The comment period ends June 1.