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Attorney Describes Recent SEC Treatment of "Concentrated Debits" under Customer Protection Rule

In a recently published securities enforcement and regulatory update, Sidley Austin attorney David M. Katz described SEC "no-action" letter treatment regarding so-called "concentrated debits" under SEC Rule 15c3-3, Appendix A, Note E(5) (the "Customer Protection Rule") (see previous coverage).

Primary Sources

  1. Sidley Austin Memorandum: SEC Issues Industry Relief to Broker-Dealers regarding the Computation of Concentrated Margin Debit Balances under SEC Rule 15c3-3 for Certain Investment Funds

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