SIFMA said these rules need to be redrafted so firms can "more effectively manage their relationships with clients through seamless and modern communication."
SEA 1934 Rule 18a-6
New rules are intended to protect the wider securities ecosystem and will apply to most market participants.
The SEC has made amendments to recordkeeping Rule 17a-4 for the first time in 25 years. What do they mean, and how can firms prepare?