Effective January 1, 2011, the IRS requires that when broker-dealers and mutual funds purchase stocks, the cost basis of the stocks must be reported to the IRS and to investors. In 2011, this reporting requirement only applies to most stocks, while in 2012 and beyond, the requirement will apply to all stocks. In 2011, the rule will not apply to mutual fund shares and shares purchased via dividend reinvestment plans. Relevant to the Series 6, Series 7, Series 62, Series 65, and Series 66 exams.
IRS news release: http://www.irs.gov/newsroom/article/0,,id=228907,00.html
Analysis by the Securities Technology Monitor: http://www.securitiestechnologymonitor.com/photo_gallery/1_36/27400-1.html