Easier Audits for Small Brokerage Firms
This new law reduces audit burdens for small, privately held brokerage firms that do not hold customer funds and meet specific criteria. This aims to simplify their operations and lower costs, potentially affecting the accessibility of financial services.
Key points
Smaller brokerage firms not holding customer assets will be exempt from certain audit requirements.
Exemption applies to firms meeting criteria like registration, good standing, and no serious past misconduct.
The goal is to support small businesses and reduce bureaucracy in the financial sector.
Status:
Expired
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