*Letters

Know Your Customer & Suitability Rules

Published on:
September 14, 2010

SIFMA provides comments to the Securities and Exchange Commission (SEC) on proposed “Know Your Customer” and Suitability rules, Release No. 34-62718; File No. SR-FINRA-2010-39. SIFMA recommends that the SEC consider the proposal as part of its comprehensive study regarding the effectiveness of existing legal or regulatory standards of care for broker-dealers and investment advisers when providing personalized investment advice about securities to retail customers. Among additional recommendations, SIFMA suggests clarifying potentially problematic language in proposed Supplemental Material.

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