New SEC Financial Responsibility Rules

January 2, 2014

The SEC recently amended its Financial Responsibility Rules governing net capital, customer protection, books and records, and broker-dealer reporting. Several amendments codify long-standing SEC rule interpretations and accounting standards applied to these requirements by broker-dealers. The amendments’ most significant aspects impact broker-dealers that carry client accounts.

To learn more, review the SEC’s adopting releases 37-70072 [PDF], 37-30073 [PDF] and 34-70701 [PDF].