On December 17, the Securities and Exchange Commission amended Rule 206(3)-3T under the Investment Advisers Act of 1940 to extend the expiration date of the Rule from December 31, 2014 to December 31, 2016. Rule 206(3)-3T is a temporary rule that establishes an alternative means for investment advisers that are registered with the Commission as broker-dealers to meet the requirements of Section 206(3) of the Advisers Act when they act in a principal capacity in transactions with certain of their advisory clients. Report.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.