SEC Considers Extension Of Temporary Principal Trading Rule

Tuesday, October 16, 2012 07:18
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SEC Considers Extension Of Temporary Principal Trading Rule

Tags: Dodd-Frank | regulation | sec

The SEC is considering extending the sunset provision on the temporary rule that establishes an alternative method for qualifying advisors registered with the commission as broker-dealers when they act in principal role in transactions (principal trading) with certain advisory clients under Section 206(3) of the Investment Advisors Act.

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The SEC is considering modification of the rule based on experiences with and observations of regulatory requirements mandated by the Dodd-Frank Act.
 
The extension proposal was put out for a public comment period, specifically asking whether the rule should be allowed to sunset and if an alternative method of compliance should be offered.

 

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