While the new rules may provide a measure of relief to certain entities that engage in a limited subset of broker-dealer activities, significant compliance requirements continue to apply.
On August 18, 2016, the U.S. Securities and Exchange Commission (SEC) approved a Financial Industry Regulatory Authority, Inc. (FINRA) proposal to adopt a separate regime for firms that meet the definition of a “capital acquisition broker” (CAB) and elect to be governed by a streamlined rule set specifically applicable to those firms (CAB Rules).
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