SEC Announces Self-Reporting Initiative for Broker-Dealers Who Have Failed to Comply with Its Customer Protection Rule

SEC Announces Self-Reporting Initiative for Broker-Dealers Who Have Failed to Comply with Its Customer Protection Rule

The Securities and Exchange Commission has announced the Customer Protection Rule Initiative (Initiative), under which broker-dealers that have failed to comply with the SEC’s Customer Protection Rule (SEC Rule 15c3-3) may self-report to the SEC in exchange for potentially favorable settlement terms.

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