Obama's Broker-Dealer Reform Package

Law360, New York (July 23, 2009, 12:00 PM EDT) -- The U.S. Department of the Treasury on July 11 issued its legislative proposal aimed primarily at the broker-dealer industry titled the “Investor Protection Act of 2009.”[1] This proposal is separate from — although certainly related to — the investment adviser reforms released the same week.

This proposal is part of the larger blueprint for financial reform found in “Financial Regulatory Reform, A New Foundation: Rebuilding Financial Supervision and Regulation” (“Financial Reform Plan”) that the U.S. Department of the Treasury published on June 17.

The stated goals...
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