Regulatory Alerts2014-08-18 | 2014-19421Added
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, 2014, to December 31, 2016. 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 broader regulatory reviews under the Dodd-Frank Act. The proposal aims to prevent potential disruptions to client access to securities and avoid substantial operational changes for firms during the ongoing consideration of fiduciary standards.
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