Search results
Results from the WOW.Com Content Network
In connection with an investigation into the SEC's role in the collapse of Bear Stearns, in late September, 2008, the SEC's Division of Trading and Markets responded to an early formulation of this position by maintaining (1) it confuses leverage at the Bear Stearns holding company, which was never regulated by the net capital rule, with leverage at the broker-dealer subsidiaries covered by ...
Security segregation or client funds, in the context of the securities industry, refers to regulatory rules requiring that customer assets held by a financial institution (generally a brokerage firm) be held separate from assets of the brokerage firm itself in a segregated account and that there is no commingling.
The use of the term NRSRO began in 1975 when the SEC promulgated rules regarding bank and broker-dealer net capital requirements (17 CFR 240.15c3-1).[1]Prior to 1975, the SEC did not adopt specific standards for determining which credit rating agencies were "nationally recognized", and instead addressed the question on a case-by-case basis. [2]
This owes to changes to the net capital rule, Rule 15c3-1, that the US Securities and Exchange Commission adopted in July 2013, [4] which amended the regulatory capital requirements for US-regulated broker-dealers and required sponsored access trades to go through the sponsoring broker's pre-trade risk layer.
Similarly, the Securities Investor Protection Corporation (SIPC) is overseen by the SEC. [1] Seal of the U.S. Securities and Exchange Commission. All brokers and dealers registered with the SEC under 15 U.S.C. § 78o, with some exceptions, are required to be members of SIPC (pursuant to 15 U.S.C. § 78ccc) and are subject to its regulations. [4]
The Securities Exchange Act of 1934 (also called the Exchange Act, '34 Act, or 1934 Act) (Pub. L. 73–291, 48 Stat. 881, enacted June 6, 1934, codified at 15 U.S.C. § 78a et seq.) is a law governing the secondary trading of securities (stocks, bonds, and debentures) in the United States of America. [1]
The NASD was founded on September 3, 1936 as Investment Bankers Conference, Inc. [9] and, on August 7, 1939, was registered under the name National Association of Securities Dealers, Inc. [10] as a national securities association with the SEC under authority granted by the 1938 Maloney Act amendments to the Securities Exchange Act of 1934, [11] which allowed it to supervise the conduct of its ...
In the United States, a pattern day trader is a Financial Industry Regulatory Authority (FINRA) designation for a stock trader who executes four or more day trades in five business days in a margin account, provided the number of day trades are more than six percent of the customer's total trading activity for that same five-day period.