Auditing disclosure risks of on-line broker-dealers

摘要

This paper discusses disclosures required of on-line broker-dealers, and recommends various internal measures that on-line broker- dealers should take to comply with securities trading regulations. On- line trading is transforming the relationship between investors and broker-dealers. While the services offered by on-line broker- dealers may be different from those offered by full-service brokers, the differences are diminishing, and both activities are subject to the same rules and regulations.