The Federal Reserve Board on Tuesday eased the disclosure requirements for brokers at section 20 units who are not located in a bank.

In a clarification effective Friday, the Fed said these brokers are no longer required to orally disclose every time they deal with a retail customer that securities offered by the section 20 are not federally insured.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.