Hawkeye State regulators have released an update about how they will interpret a new financial reporting rule.
The Iowa Securities & Regulated Industries Bureau say officials there will require a broker-deal to file an audited financial statement only if the firm is filing an initial application, or if the bureau calls, faxes, or e-mails the firm asking for the financial statements.
The bureau issued the clarification in connection with an audited financial statements rule that will take effect Wednesday.
