SEC proposes stricter rules on cash sweeps

03/26/2007 | InvestmentNews (free registration)

The SEC, furthering a NYSE practice, is asking firms to amend their disclosure rules on cash sweeps and to provide a quarterly notice to customers informing them that they can opt out of a default sweep option. "Where NYSE guidelines are in effect, industry firms should be in compliance," SIFMA spokesman Travis Larson said.

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