FINRA Withdraws Customer Account Statement Plan

Reuters – A proposal that would have required brokerages to send account statements to their customers more frequently has been scrapped — at least for now.

The Financial Industry Regulatory Authority on Thursday [Aug. 2] withdrew a plan it originally submitted for approval by the U.S. Securities and Exchange Commission in 2009 that would have enhanced existing securities industry rules on how often firms must send statements, according to an SEC notice.

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