WASHINGTON – The Securities and Exchange Commission on Wednesday adopted amendments to its financial responsibility rules for broker-dealers, as well as rules designed to increase protection for investors who hold their money in such firms.
The SEC amended the rules for net capital, customer protection, books and records and notification as part of a set of technical changes to the responsibility rules.
The increased investor protection rules require broker-dealers to file new reports that should result in higher levels of compliance with the SEC's rules, the agency said.
The agency voted unanimously for the amendments, but was split 3-2 over the new protection rules.
(Reporting by Douwe Miedema; Editing by Gerald E. McCormick)