After three months of fine-tuning, the National Association of Securities Dealers has issued its final proposal to create a new framework for bank-affiliated broker-dealers.

The proposal now goes to the Securities and Exchange Commission for further review. Final approval is expected by midyear, industry lawyers said.

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.