Should Broker-Dealers Self-Report?

Law360, New York (May 19, 2010, 3:22 PM EDT) -- If a firm discovers a problem, should it self-report (assuming no regulatory obligation to do so)? Will it receive sufficient credit for self-reporting or is it just ensuring that it will be the subject of an enforcement action?

In an attempt to answer these questions, the Securities and Exchange Commission in January 2010 announced revisions to its Enforcement Manual and an initiative aimed at encouraging cooperation in investigations or voluntarily disclosure of past or potential violations of the securities laws by companies and individuals.[1] In an...
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