Regulatory Alerts2012-10-12 | 2012-25116Added
Temporary Rule Regarding Principal Trades With Certain Advisory Clients
The Securities and Exchange Commission proposes to amend temporary rule 206(3)-3T to extend its sunset date from December 31, 2012, to December 31, 2014. This extension provides investment advisers registered as broker-dealers additional time to continue using an alternative compliance method for principal trades with certain advisory clients while the Commission completes a broader study on regulatory standards of care mandated by the Dodd-Frank Act. The Commission seeks public comment on whether to allow the rule to sunset, the appropriate duration for any further extension, and potential changes to disclosure requirements for advisers relying on the rule.
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