SEC Proposal on Broker-Dealer Reports

Public Policy


Regulatory Comments

SEC Proposal on Broker-Dealer Reports

Aug 26, 2011

On August 26, 2011, CFP Board submitted a comment letter to the SEC in support of its proposal to strengthen the rules that apply to broker-dealers with custody of client assets. In its letter, CFP Board characterized the Broker-Dealer Reports Proposal as a welcome effort to close regulatory gaps demonstrated by the Bernard Madoff Ponzi scheme scandal.CFP Board believes the Broker-Dealer Reports Proposal is a much-needed companion rule to the Investment Adviser Custody Rule that will enhance the Commission's ability to oversee the custody activities of broker-dealers.

Read CFP Board’s letter (PDF, 98KB)


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