Institute Files Comment Letter on Broker-Dealer Recordkeeping Proposal

Washington, DC, November 11, 1998 - The Institute recently filed a comment letter with the Securities and Exchange Commission on its reproposed amendments to the broker-dealer books and records rules (Rules 17a-3 and 17a-4 under the Securities Exchange Act of 1934). The Institute's comments focus on whether certain proposed requirements are applicable to broker-dealers that do not make investment recommendations, such as many underwriters of investment companies.