After Criticism, SEC To Study Broker Registration Rule

Law360, New York (March 6, 2006, 12:00 AM EST) -- Facing sharp criticism of a rule that exempts some brokers from regulation, the U.S. Securities and Exchange Commission will look into ways of improving its regulation of brokerage firms and investment advisors.

“To address the question of how best to harmonize broker regulation under the Exchange Act and adviser regulation under the Advisers Act, our staff were asked to make recommendations for a study to look into these and other related issues,” SEC Chairman Christopher Cox said.

The study comes in response to criticism of an...
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