SEC and Federal Reserve Formalize Oversight Plan For Broker-Dealers as Prequel to Bigger Changes
July 11, 2008
The formal agreement to bolster oversight of Wall Street broker-dealers that was announced this week by the Federal Reserve and the Securities and Exchange Commission represents a downpayment on a broader effort to strengthen regulation of the industry. Under a memorandum of understanding finalized this week, the Fed and the SEC will share information on bank brokerage activities, clearance...