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9.4 SEC Point of Sale Rulemaking Authority

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9.4 SEC Point of Sale Rulemaking Authority

 

 


9.4.       SEC Point of Sale Rulemaking Authority.  The Act clarifies the SEC's authority to adopt rules requiring broker-dealers to provide documents or information to customers before the purchase of a product or service.  Document form and contents are mandated to be in summary format and to disclose investment objectives, strategies, costs, risks, and compensation or incentives to the intermediary. [§919]