The SEC approved separate proposals by the National Securities Clearing Corporation, the Fixed Income Clearing Corporation and the Depository Trust Company to increase certain minimum capital requirements for members and make other adjustments.
News & Insights
FINRA revised and redesignated its Interpretations of the SEA Financial and Operating Rules to align with recent SEC amendments.
The SEC adopted changes to the exemptions for certain clearing agencies and broker-dealer/futures commission merchants concerning the portfolio margining of swaps and security-based swaps that are cleared credit default swaps.
In new guidance, the SEC Division of Trading and Markets staff addressed the application of financial responsibility requirements (margin, capital and segregation) to security-based swap activities.
FINRA updated its guidance on net capital requirements for brokers or dealers, and customer protection-reserves and custody of securities. The updates to the Interpretations of Financial and Operational Rules were communicated to FINRA by the SEC Division of Trading and Markets.