Implications of Proposed Amendments to SEC

Posted on 06.19.13

SEC Broker Dealer Reporting - Richmond CPA Firm By Adam Bailey, CPA, MBA

In June 2011, the Securities and Exchange Commission proposed certain amendments to the Securities Exchange Act of 1934 - Rule 17a-5, specific to financial reporting of broker-dealers.  The proposals were made largely in response to the Bernie Madoff scandal in 2008.  On June 18, 2013, Michael Jamroz of Deloitte & Touch, LLP presented the most recent update to proposed amendments to SEC Rule 17a-5, "Reports to be Made by Certain Brokers and Dealers”.   During the past two years, the proposals have been reviewed and commented on by industry professionals and final enacted changes are anticipated to be issued during 2013. Read more