Broker/dealer auditors must register with PCAOB.

• Position: SEC News, Securities and Exchange Commission - Brief Article

The SEC has determined that auditors of privately held broker/dealers must register with the PCAOB.

Although the Sarbanes-Oxley Act is primarily directed at "issuers" (as defined by the Act) and their auditors, privately held securities broker/dealers also come under the scope of certain provisions of the Act.

Recently, the National Association of Securities Dealers made a request to the SEC for small broker/dealers to be deemed exempt from this rule. At press time, that decision was pending.

The Act set the deadline for registration 180 days after the SEC determined that...