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SEC Re-Proposes Financial Responsibility Rule

May 4, 2012
The SEC on Thursday re-opened the public comment period for proposed amendments to its net capital, customer protection, books and records, and notification rules for broker-dealers.  As proposed, the rule amendments are designed to update the financial responsibility rules for broker-dealers and make certain technical amendments. The Commission first issued the proposed amendments on 5 years ago - on 3/9/07, and closed the comment period on 6/18/07, but did not act on the proposed amendments.  Given the economic events, regulatory developments, and 5-year passage of time, as well as the continuing public interest in this area, the SEC believes now is an appropriate time to seek additional public comment on the proposed rule amendments. Comments will be accepted for the next 30 or so days. For further details, go to:  [SEC Press Release, 5/3/12] and [SEC Proposed Rule Release #34-66910, 5/3/12].