The Securities and Exchange Commission Enforcement Division has created a new task force to scrutinize broker-dealer practices.
This unit existed in the 1980's and 1990's and was phased out. It is now being brought back. The SEC started developing the task force in September and the Financial Industry Regulatory Authority has also established an enforcement team to target recidivist brokers.
Interestingly, one wonders what would have happened if the SEC had not previously done away with this unit.
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