A dually-registered broker-dealer and investment adviser settled SEC charges for providing unsuitable recommendation on complex variable interest rate structured products to investors nearing retirement age.
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The SEC Division of Trading and Markets issued two new FAQs related to electronic recordkeeping requirements.
Comments on an SEC proposal to establish minimum standards for outsourcing investment advisory services and related form amendments are due by December 27, 2022.
The effective date for amendments to the SEC broker-dealer and security-based swap dealer electronic recordkeeping requirements will be January 3, 2023.
The SEC proposed a new rule establishing minimum standards that investment advisers would be required to meet prior to outsourcing certain services or functions.