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Thus, for example, in the United States the law (in particular, the SEC's customer protection rule, Rule 15c3-3) generally requires that a broker must take steps to hold separately, in separate (segregated) accounts on the broker's books, securities it holds for its customers from securities of the broker itself. [1] [2] [3] The purpose of the ...
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 ...
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]
The Securities Investor Protection Corporation (SIPC / ˈ s ɪ p ɪ k /) is a federally mandated, non-profit, member-funded, United States government corporation created under the Securities Investor Protection Act (SIPA) of 1970 [3] that mandates membership of most US-registered broker-dealers.
Adopted in February over Republican officials' objections, the rule required proprietary traders and others who routinely deal in government bonds and other securities to register as broker-dealers.
The term "Omnibus Account" is used by Federal Securities Regulations, such as the SEC's Customer Protection Rule, [1] which makes it a violation of federal regulations for a broker-dealer to fail to maintain an adequate number of securities to match the sum of fully paid securities entitlements the brokerage firm has issued to its customers.
Electronic ticker monitor display, showing the bid and offer status of securities. Securities market participants in the United States include corporations and governments issuing securities, persons and corporations buying and selling a security, the broker-dealers and exchanges which facilitate such trading, banks which safe keep assets, and regulators who monitor the markets' activities.
The SEC was created by the Securities Exchange Act of 1934 to enforce the Securities Act of 1933. [3] The SEC oversees several important organizations: for example, FINRA, a self-regulatory organization, is regulated by the SEC. FINRA promulgates rules that govern broker-dealers and certain