SEC Temporary Rule on Principal Trades with Advisory Clients

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On December 20, 2012, the SEC amended Temporary Rule 206(3)-3T under the Investment Advisers Act of 1940 that establishes an alternative means for investment advisers who are registered as broker-dealers to meet the requirements of Section 206(3) of the Investment Advisers Act when they act in a principal capacity in transactions with certain advisory clients. The amendment extends the sunset date for the rule from December 31, 2012 to December 31, 2014. SEC Rule.

Topics:  Broker-Dealer, Investment Advisers Act of 1940, SEC

Published In: Administrative Agency Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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