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Daily Computation of Customer and Broker-Dealer Reserve Requirements Under the Broker-Dealer Customer Protection Rule

SEC · final-rule · Published 2025-01-13 · Effective 2025-03-14 · 90 FR 2790

Document

Document number
2024-31178
Federal Register citation
90 FR 2790
CFR reference
17 CFR 240
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Securities and Exchange Commission
Publication date
2025-01-13
Effective date
2025-03-14
Docket
Release No. 34-102022

Abstract

The Securities and Exchange Commission ("Commission") is adopting amendments to the broker-dealer customer protection rule to require certain broker-dealers to perform their reserve computations for accounts of customers and proprietary accounts of broker-dealers and make any required deposits into their reserve bank accounts daily rather than weekly. The Commission also is adopting amendments to the broker-dealer net capital rule and customer protection rule to permit certain broker-dealers that perform a daily reserve computation for accounts of customers to reduce aggregate debit items (i.e., customer- related receivables) by 2% rather than 3% as part of the computation. Finally, the Commission is adopting technical amendments to the Financial and Operational Combined Uniform Single Report ("FOCUS Report") to conform it to the amendments with respect to the lowering of the debit reduction from 3% to 2%.

Source

Authoritative
Federal Register document
Machine
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