SEC Order Concerning Broker/Dealer Financial Statement Requirements under Section 17 of the Exchange Act



August 6, 2003

 

Under the Sarbanes-Oxley Act, Section 17(e) of the Exchange Act requires financial documents filed by any broker/dealer to be certified by an independent public accountant registered with the Public Company Accounting Oversight Board (PCAOB). On August 5, the SEC issued an order temporarily suspending the requirement for non-publicly held broker/dealers to use a PCAOB registered accountant. Under this order, that requirement is suspended until January 1, 2005, or such earlier date when PCAOB promulgates rules for the registration of independent public accountants that audit non-public broker/dealers.

 

The complete text of the order is available at: http://www.sec.gov/rules/other/34-48281.htm