SEC WON'T APPEAL COURT DECISIONThe Securities and Exchange Commission said that it would ask a court to allow four months for investors and their brokers to respond in light of a court decision affecting an estimated 1 million fee-based brokerage accounts.
In asking for a 120-day stay of the ruling of the Court of Appeals, the regulator said that it would not seek a further review of the March 30, 2007, decision that affects customer accounts holding an estimated $300 billion.
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