principal capacity

SEC Proposed Rule on Principal Trades with Advisory Clients

On October 9, the SEC proposed an amendment to rule 206(3)-3T under the Investment Advisers Act of 1940, a temporary rule that establishes an alternative means for investment advisers registered with the SEC as broker-dealers to meet the requirements of section 206(3) of the Act when they act in a principal capacity in transactions with certain of their advisory clients.  Comments must be received within 30 days after publication in the Federal Register.  SEC Proposed Rule.