SEC amends the single issuer exemption for broker-dealers
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.