SEC Says No New Rules on Broker Bonuses
Dec 3, 2010 10:06 pm
Schapiro's comments at a SIFMA conference in early November ignited a flurry of speculation that the regulator planned to write new rules to eliminate broker recruiting bonuses, or require greater disclosure of the terms of these bonuses to clients. But neither thing is going to happen, the SEC says.
http://registeredrep.com/advisorland/sec_says_it_is_not_writing_new_rules_on_broker_bonuses/
Dec 5, 2010 6:14 pm
Most likely as a result of the industry sweep SEC performed last year fall of 2009 examining most firms that paid up front money. The SEC also used that opportunity to perform a brief exam under the guise of a sweep.
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