Banking & Securities Spotlight: Changes to the SEC’s and PCAOB’s Reporting Requirements for Broker-Dealers and Their Auditors
Issue 2, July 2011
This issue in the Industry Spotlight series discusses the recent proposed changes to the SEC's and PCAOB's reporting requirements for broker-dealers and their auditors. Specifically, the SEC has proposed significant changes to Rule 17a-5, "Reports to Be Made by Certain Brokers and Dealers," of the Securities Exchange Act of 1934 in an effort to strengthen the audits and reporting of broker-dealers. In addition, the PCAOB has proposed three new standards (two attestation standards and one audit standard) on audits of broker-dealers.
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