Operations Management - SEC Staff Preps Broker Custody Proposals

SEC Staff Preps Broker Custody Proposals

Brokerages are likely to face stricter custody rules soon, as staffers at the Securities and Exchange Commission's Division of Trading and Markets are preparing to send the Commission recommendations for beefing them up. The likely plans follow on the heels of new custody rules imposed on investment advisers late last year in the wake of the Bernard Madoff scandal, according toWSL sister publication Compliance Reporter.

Under the rules being readied, broker-dealers would be required to answer, on a quarterly basis, a series of questions. These would include queries such as what custody they hold over customer assets and about any ...

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Covering TransactionProcessing Issues BeforeThey Clear and Settle

SEC Staff Preps Broker Custody Proposals

Covering Transaction
Processing Issues Before
They Clear and Settle