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SEC proposes rule on single issuer exemption for broker-dealers

  • SEC document Image

Sep 21, 2018

The SEC has issued a proposed rule, “Amendment to Single Issuer Exemption for Broker-Dealers,” which would amend the exemption provisions in the broker-dealer annual reporting rule under the Securities Exchange Act of 1934.

Specifically, the rule would “provide that a broker-dealer is not required to engage an independent public accountant to certify the broker-dealer’s annual reports 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.”

Comments on the proposed rule are due 30 days after the date of its publication in the Federal Register. For more information, see the proposed rule on the SEC’s Web site.

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