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News February 6, 2006 Issue

No Fee-Based Extension for SIA

Could it be?

After years of rulemakings, delays, and extensions, it looks like all of the provisions of the SECís fee-based brokerage rule, originally proposed in November 1999, finally are in effect.

Last week, by its silence, the SEC declined to grant the two-month extension requested by the Securities Industry Association of the financial planning provisions of the fee-based brokerage rule. The rule went into effect January 31, 2006.