*Letters

SIA Submits Comments to the SEC on the SEC’s Release Relating to Broker-Dealers

Published on:
February 7, 2005

The Securities Industry Association (SIA)*provides comments to the Securities and Exchange Commission (SEC)on the SEC’s release, Certain Broker-Dealers Deemed Not to be Investment Advisers, File No. S7-25-99; Release Nos. 34-50980; IA-2340. SIA supports the central position of the rule that an Exchange Act-registered broker-dealer’s offering its customers the alternative of paying a fee rather than a commission should not result in the broker-dealer’s becoming subject to the provisions of the Advisers Act.

*SIFMA is the product of the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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