SIFMA applauds SEC's move on fee-based accounts

The SEC adopted a rule Wednesday that offers so-called "principal trading relief" in non-discretionary accounts. The commission's decision comes after a court ruling that stood to have a dramatic affect on investors with fee-based brokerage accounts. "This decision provides important flexibility to these consumers and delivers increased consumer choice within the constraints set by the court," SIFMA President and CEO Marc E. Lackritz said in a statement. Read the full SIFMA press release.

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