*Letters

No-Action Relief Under Broker-Dealer Customer Identification Rule

Published on:
January 10, 2013

SIFMA provides comments to the Securities and Exchange Commission (SEC) requesting no-action relief under broker-dealer customer identification rule (CIP Rule).  The CIP Rule requires broker-dealers to adopt written customer identification programs (CIP) that include risk-based procedures for verifying the identity of each customer.  SIFMA is seeking assurances from the staff of the SEC Division of Trading and Markets (Division), that it will not recommend enforcement action to the SEC if a broker-dealer, subject to the conditions set forth in the Division staff’s No-Action Letter dated January 11, 2011 (the 2011 No Action Letter).

Details

Download

More Content

  • Letters
    Oct 22, 2026

    Treasury/IRS Notice 2026-49: Guidance on Section 324 of the SECURE 2.0 Act with Respect to Rollovers

    SIFMA supports modernizing retirement plan rollovers through standardized electronic processes, fraud safeguards and appropriate implementation timelines.
  • Amicus Briefs
    Oct 21, 2026

    In re USD LIBOR Litigation

  • Letters
    Oct 20, 2026

    SEC’s Proposed Rule Regulation Crypto Assets

    SIFMA and SIFMA AMG provide recommendations to the SEC on its proposed crypto asset regulation, addressing regulatory clarity, implementation and investor protection.

Get the latest trends, stats, and research on financial markets and securities.