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SEC Grants Relief to NSCC Broker-Dealer Members regarding Allowable Investments in NSCC "Long Free" Account

The SEC Division of Trading and Markets granted no-action relief to broker-dealer members of the National Securities Clearing Corporation ("NSCC") pursuant to Exchange Act Rule 15c3-3. The relief allows the NSCC to invest cash debited from its members' settlement accounts into the NSCC's long free account, an account set up to facilitate NSCC members' securities delivery obligations.

Primary Sources

  1. SEC Division's No-Action Letter to NSCC (December 1, 2016)

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Tags

Regulated Activities
Central Clearing Custody
Regulated Entities
Broker-Dealers Markets
Sub-Entity
Clearing Organizations
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
SEC