Regulatory Alerts2018-08-21 | DOF 5535370Added
Resolution modifying the general provisions applicable to securities broker-dealers
The resolution amends Article 68 to restrict direct electronic access channels for securities broker-dealers to only those clients specified in fractions I to V of Article 2 of the general provisions for financial entities. It modifies transitional provisions to require compliance with best execution duties under Article 76 Bis starting October 22, 2018, and compliance with Articles 30 and 99 by July 31, 2019. Broker-dealers must update their systems within three months to prevent sophisticated qualified investors from using direct electronic access channels and must document client instructions regarding stock exchange selection.
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