SEC Pushes Stricter Audit Rules For Carrying Firms
The amendments, which are not directly related to the federal financial regulatory overhaul, grew out of Bernard Madoff's Ponzi scheme and other frauds, according to SEC Chairwoman Mary Schapiro. They would mandate audits of the controls broker-dealers have in place and strengthen oversight of broker-dealers' custody practices.
“We must take strong steps” to ensure the safety...
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