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Statement from SEC and FINRA codifies questions for broker-dealer custody
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Quick Take
- The SEC and FINRA released a joint statement elaborating on questions of custody and broker-dealer compliance
- Much of the concern focuses on how to ensure securities can’t go missing due to fraudulent activity or technical mishaps
- The main scrutiny is placed on broker-dealer custody
There’s a backlog of crypto firms looking to snag a license to operate broker dealer licenses, but regulators are unlikely to give the green light until the space cleans up. A statement issued jointly by the Securities Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) codified some of the concerns the agencies have about […]
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