SEC amends the single issuer exemption for broker-dealers

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Jun 11, 2019

On June 11, 2019, the SEC issued a final rule, “Amend­ment to Single Issuer Ex­emp­tion for Bro­ker-Deal­ers.” The final rule clar­i­fies the scope of an ex­ist­ing ex­emp­tion under which a bro­ker-dealer is not re­quired to “engage an in­de­pen­dent public ac­coun­tant to certify the bro­ker-dealer’s annual reports filed with the Com­mis­sion if, among other things, the se­cu­ri­ties busi­ness of the bro­ker-dealer has been limited to acting as broker (agent) for a single issuer in so­lic­it­ing sub­scrip­tions for se­cu­ri­ties of that issuer.”

For more in­for­ma­tion, see the final rule on the SEC’s Web site.

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