A Small Entity Compliance Guide

SEC: Rule 15c3-5 (Risk Management Controls for Brokers or Dealers with Market Access)

The SEC published on its web site a guide for small firms to comply with recently-adopted Rule 15c3-5 under the Exchange Act. The rule requires firms to have risk controls in connection with their market access. The guide provides a concise summary of the rule from the SEC staff.

Please contact any of the following Cadwalader attorneys if you have any questions about this item:

Steven Lofchie; [email protected]

Glen Barrentine; [email protected]

Date

January 6, 2011

Cross References (links may require a Cabinet subscription)

CWT C&F Memo: The SEC Publishes Final Rule Regulating Access to Securities Markets

Exchange Act Rule 15c3-5

SEC Release 34-63241 (adopting rule)