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Broker-Dealer › Net Capital Rule › Customer Protection Rule

Morrison & Foerster LLP

U.S. SEC Extends Compliance Deadline for Recent Amendments to the Customer Protection Rule

Morrison & Foerster LLP on

On June 25, 2025, the U.S. Securities and Exchange Commission (SEC) voted to extend the compliance deadline for recent amendments to Exchange Act Rule 15c3-3 (the “Customer Protection Rule”) to June 30, 2026. The amendments,...more

WilmerHale

SEC Amends the Customer Protection Rule to Require Daily Reserve Formula Computations for Large Clearing/Carrying Broker-Dealers

WilmerHale on

On December 20, 2024, the Securities and Exchange Commission (SEC) issued a final rule amending SEC rules 15c3-3 (the customer protection rule) and 15c3-1 (the net capital rule). The SEC also amended Form X-17A-5 Part II (the...more

Fox Rothschild LLP

New SEC Division Undertakes 2021 Examination Priorities

Fox Rothschild LLP on

On December 17, 2020, SEC created the Division of Examinations by renaming the now defunct, Office of Compliance Inspections and Examinations, making it the SEC’s 6th Division joining Enforcement, Corporation Finance, Trading...more

Katten Muchin Rosenman LLP

FINRA Updates Its Interpretation of the SEC’s Financial Responsibility Rules

Katten Muchin Rosenman LLP on

In June, the Financial Industry Regulatory Authority updated its interpretations of the Securities and Exchange Commission Rules 15c3-1 (net capital) and 15c3-3 (customer protection). Among other things, FINRA updated its...more

Morgan Lewis

SEC Issues FAQs on Financial Responsibility Rules

Morgan Lewis on

The guidance addresses expense arrangements, buy-in procedures, free credit balances, sweep programs, and bulk transfers, among other things. On March 6, the staff of the Securities and Exchange Commission (SEC) issued...more

Goodwin

FINRA Settles Administrative Proceedings Against Clearing Broker-Dealer For Failures to Comply with Anti-Money Laundering,...

Goodwin on

The Financial Industry Regulatory Authority, Inc. (“FINRA”) issued an order (the “Order”) settling administrative proceedings against a clearing broker-dealer (the “Broker”), regarding various failures to comply with...more

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