Commentary

Joanna Fields
Traders Magazine Online News

Navigating Cybersecurity on a Stretch of "Regulatory Rapids"

In this shared commentary, Aplomb Strategies writes that when considering a firm’s governance structure, a holistic approach makes the most sense.

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June 30, 2001

No Taping, Please

By Editorial Staff

The Securities and Exchange Commission has ruled that broker dealers have no "compelling reasons" to be excused from the NASD Regulation's taping rule.

Commissioners held that there could be no exemption from a requirement to tape customer conversations with employees who had been formerly employed by firms that had been disciplined.

Exemption Asked

Whitehall Wellington Investments had wanted an exemption because of questions over whether the policy would clash with state laws requiring the consent of both parties.

The firm also held that the administrative resources required for following the policy would be burdensome.