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SEC Rule to Extend Exemption from Conflict-of-Interest Rules

Proposed by the Securities and Exchange Commission (“SEC”), Temporary Rule Regarding Principal Trades with Certain Advisory Clients amends rule 206(3)-3T under the Investment Advisers Act of 1940. Per the proposal, rule 206(3)-3T would be extended to December 31, 2016. Comments on Temporary Rule Regarding Principal Trades with Certain Advisory Clients are due 30 days after being published in the Federal Register.

The amendment provides an another means for investment advisers registered as SEC broker-dealers to meet section 206(3) requirements of the Investment Advisers Act when performing in a principal capacity during transactions with certain advisory clients.

Check out the Firm’s SEC Audit page for more information on our services.

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