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.

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