Chronology: Evolution/Devolution of the Broker/Dealer Rule

May 2007
Journal of Financial Planning;May2007, Vol. 20 Issue 5, p33
Academic Journal
The article presents a timeline of the broker/dealer rule, which exempts brokerage firms that give advice in connection with stock sales from the Investment Advisers Act of 1940. In 1999 the United States Securities and Exchange Commission began meeting with major brokers to institute fee-based brokerage programs that granted them exemption from the rule. The timeline ends in the year 2007, when the United States Court of Appeals for the District of Columbia Circuit ruled to vacate the rule in its entirety.


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