FINRA Announces Updates of the Interpretations of Financial and Operational Rules (Regulatory Notice 14-12)

FINRA updated the embedded text of the Exchange Act financial responsibility rules in the Interpretations of Financial and Operational Rules to reflect amendments that became effective on March 3, 2014. The updated embedded text relates to EA Rules:

• 15c3-1 ("Net Capital Requirements for Brokers or Dealers");
• 15c3-3 ("Customer Protection - Reserves and Custody of Securities");
• 15c3-3a ("Exhibit A - Formula for Determination of Customer and PAB Account Reserve Requirements of Brokers and Dealers under §240.15c3-3");
• 17a-3 ("Records to Be Made by Certain Exchange Members, Brokers and Dealers"); and
• 17a-4 ("Records to Be Preserved by Certain Exchange Members, Brokers and Dealers").

See:Regulatory Notice 14-12.Related news: FINRA Announces Updates of the Interpretations of Financial and Operational Rules: FINRA Regulatory Notice 14-06 (February 7, 2014); SEC Extends Compliance Date for Certain Broker-Dealer Financial Responsibility Rule Amendments (October 17, 2013); SEC Publishes Two Final Rules Regarding Broker-Dealers (Fed. Reg.) (with Lofchie Comment) (August 21, 2013).