SEC official says new custody rules will help prevent fraud

08/8/2013 | InvestmentNews (free registration)

Luis Aguilar, a member of the Securities and Exchange Commission, said that new rules governing brokers who control their clients' funds will help prevent fraud. "Registered broker-dealers should be required to account for money and securities entrusted to them by their customers. Our new custody rules substantially enhance such protection," Aguilar said. For more information and the AICPA's advocacy on the custody rules, visit AICPA.org.

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