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NAFCU Sought Input from CUs on SEC Broker-Dealer Proposal

ARLINGTON, Va. - NAFCU recently asked for comments from its members on the SEC's proposed rule on broker-dealer registration requirements. The SEC's Regulation B would provide credit unions with exemptions to engage in certain transactions without having to register with the SEC. The areas that are of most importance to...

By Staff Writer | Updated on July 20, 2004

ARLINGTON, Va. – NAFCU recently asked for comments from its members on the SEC’s proposed rule on broker-dealer registration requirements. The SEC’s Regulation B would provide credit unions with exemptions to engage in certain transactions without having to register with the SEC. The areas that are of most importance to credit unions are third-party brokerage arrangements, sweep accounts and trust and fiduciary activities. Comments were due to NAFCU by July 19. Comments are due to the SEC by Aug. 2.

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