Is PFOP Going to Be More Prescriptive?

"I think that if the SEC has its own rule, it can send its own examiners and it can use its own enforcement people to enforce sounds like a cop and J walking," he said. "It can have a bigger impact itself in enforcing these standards rather than have to do it, you know, kind of rely on other people." The proposal largely tracks the FINRA rule which says firms need to have policies and procedures as well as review execution quality periodically.