SEC Amends the Single Issuer Exemption for Broker-Dealers
June 11, 2019
The SEC has issued a final rule, Amendment to Single Issuer Exemption for Broker-Dealers.
The final rule clarifies the scope of an existing exemption under which a broker-dealer is not required to “engage an independent public accountant to certify the broker-dealer’s annual reports filed with the Commission if, among other things, the securities business of the broker-dealer has been limited to acting as broker (agent) for a single issuer in soliciting subscriptions for securities of that issuer.”
For more information, see the final rule on the SEC’s Web site.