Temporary Rule Regarding Principal Trades with Certain Advisory Clients

• Date: February 23, 2010
• Source: www.sec.gov

The Securities and Exchange Commission is adopting as final Rule 206(3)-3T under the Investment Advisers Act of 1940, the interim final temporary rule that establishes an alternative means for investment advisers who are registered with the Commission as broker-dealers to meet the requirements of Section 206(3) of the Investment Advisers Act when they act in a principal capacity in transactions with certain of their advisory clients. As adopted, the only change to the rule is the expiration date. Rule 206(3)-3T will sunset on December 31, 2010.

Effective Date: December 30, 2009, except 17 CFR 275.206(3)-3T will expire and no longer be effective on December 31, 2010

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