Advisor industry groups are asking the Securities and Exchange Commission to relax some of the provisions of its proposed client privacy rules to ease the compliance burden on the firms that would be subject to the regulation.
The Investment Adviser Association and the Financial Services Institute both laud the SEC’s efforts to strengthen client-data protections in broad strokes, but they quibble with some of the particulars of the proposal, including the timetable for firms to respond to security incidents and the public…
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