Proposed rules would let SEC shut firms

Hume, Lynn
March 1999
Bond Buyer;03/03/99, Vol. 327 Issue 30590, p5
Trade Publication
Focuses on the United States Securities and Exchange Commission's (SEC) proposed rules that would allow it to shut down broker-dealers and nonbank transfer agents if they are not year 2000-compliant by October 1999. Aim to codify a broker-dealer's existing obligation to be operationally capable; Assumption that a firm has a material year 2000 problem if its computer system misreads any dates in 1999 or thereafter.


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