Death of asset-based fee brokerage rule force broker-dealers to adapt

Death of asset-based fee brokerage rule force broker-dealers to adapt

On March 30, 2007, the US Court of Appeals for the District of Columbia Circuit held that the Securities and Exchange Commission exceeded its authority by adopting Rule 202(a)(11)-1.1 The Rule, promulgated under Section 202(a)(11) of the Investment Advisers Act of 1940, generally exempts certain bro...

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Veröffentlicht in:Banking & Financial Services Policy Report 2007-08, Vol.26 (8), p.1
Hauptverfasser: Zambrowicz, Kevin A, Treakle, Miles
Format: Artikel
Sprache:eng
Schlagworte:
Brokers
Compensation
Courts of appeals
Exemptions
Federal court decisions
Fees & charges
Financial planning
Investment Advisers Act 1940-US
Scandals
Securities industry
Service introduction
Short term
Stock brokers
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Beschreibung
Zusammenfassung:On March 30, 2007, the US Court of Appeals for the District of Columbia Circuit held that the Securities and Exchange Commission exceeded its authority by adopting Rule 202(a)(11)-1.1 The Rule, promulgated under Section 202(a)(11) of the Investment Advisers Act of 1940, generally exempts certain broker-dealers providing advisory services from the requirements of the Advisers Act. The court's ruling will take effect on October 1, 2007.
ISSN:1530-499X