On July 24th, the SEC and the Federal Deposit Insurance Corporation (FDIC) adopted a final rule required by the Dodd-Frank Act that clarifies and implements provisions relating to the orderly liquidation of certain brokers or dealers (covered broker-dealers) in the event the FDIC is appointed receiver under Title II of the Dodd-Frank Act. This final rule was adopted in consultation with the Securities Investor Protection Corporation (SIPC).
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