Wednesday, August 20, 2014

SEC Continues to Permit Reps to Sell their Company's Stock to Clients

Dually registered investment advisory and broker-dealer firms will be able to continue selling stock from their own accounts to some clients, the Securities and Exchange Commission said.

United States Securities and Exchange Commission

The SEC has announced it plans to extend by another two years, until December 31, 2016, this ability for dually registered firms with fee-based accounts, a posting on the regulator’s Division of Investment Management web site Monday revealed.

The permission only applies to accounts where the clients have the ability to accept or reject proposed sales and only under some situations.

This is the fourth time the regulator has moved to extend the permission since it was granted in 2007.

More details are available at SEC To Allow Dually Registered Firms To Continue Stock-Sale Practice.
The attorneys at Sallah Astarita & Cox, LLC include former SEC Enforcement attorneys and prosecutors and decades of experience representing all participants in the securities markets. To see if we can help you with your securities issue, call 212-509-6544.
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