NU Online News Service, April 19, 2005, 5:53 p.m. EDT
The U.S. Securities and Exchange Commission has published the final version of a controversial regulation dealing with the role of broker-dealers.[@@]
The regulation, which appears today in the Federal Register, holds that broker-dealers can set up fee-based or asset-based compensation arrangements and engage in many activities that involve efforts to provide some financial advice without having to meet all of the many requirements that apply to investment advisors.
