U.S. SEC to review plan to require brokers to disclose bonuses

Wall Street’s industry-funded watchdog has asked the U.S. Securities and Exchange Commission to approve a measure that would require stockbrokers to tell clients about bonuses they receive when they switch firms, according to a regulatory filing.
The Financial Industry Regulatory Authority late Monday, sent the plan to the SEC, whose approval it needs. The 351-page proposal will be subject to a public comment period before the SEC considers and votes on it. More on Reuters here.