September 27, 2013

SEC Announces Plans In The Event Of Government Shutdown

The SEC issued a statement on how it will function in the event the government shuts down on October 1, 2013. This link will take you to the announcement.

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September 25, 2013

SEC Amends Broker-Dealer Financial Responsibility and Reporting Rules

On July 30, 2013, the SEC adopted amendments to its financial responsibility rules, including changes to the net capital rule, the customer protection rule, the recordkeeping rules and the notification rules applicable to broker-dealers under the Securities Exchange Act of 1934,.  The SEC first proposed the amendments on March 9,…

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September 18, 2013

SEC Establishes Registration Rules for Municipal Advisors

The SEC has adopted permanent registration rules for municipal advisors as required by the Dodd-Frank Act.  The new rules, which will become effective 60 days after they are published in the Federal register, require a municipal advisor to permanently register with the SEC if it provides advice on the issuance of municipal securities, municipal derivates or about certain investment strategies for proceeds from the sale of municipal securities.  Registered municipal advisors will have to adhere to standards for training, qualification and conduct, including the treatment of conflicts of interest.

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September 5, 2013

The SEC Solicits Comments on a Proposed Rule Change Relating to Wash Sale Transactions and FINRA Rule 5210

On August 15, 2013, FINRA filed with the SEC a proposal to add supplementary material to FINRA Rule 5210 (Publications of Transactions and Quotations) to address members' obligations with respect to certain securities transactions that involve no change in the beneficial ownership of those securities, commonly known as "wash sales".  On August 28, 2013, the SEC published a notice to solicit comments on the proposed rule change.

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