Temporary Exemption for Floor Broker Operations of Broker-Dealers from the Automated Controls Requirement of Rule 15c3-5 (Exemptive Order); 76 FR 51457
August 15, 2011
The SEC granted a temporary exemption to floor broker operations of broker-dealers with market access and who handle orders on a manual basis from the automated controls requirement of recently-adopted Exchange Act Rules 15c3-5(c)(1)-(2). For further detail on the requirements of Rule 15c3-5, see Cadwalader's Clients and Friends Memo, The SEC Publishes Final Rule Regulating Access to Securities Markets (Nov. 15, 2010). For more information about this document, you may contact one of the following Cadwalader attorneys: Steven D. Lofchie; Glen P. Barrentine.
Cross References: Exchange Act Rule 15c3-5, 75 FR 69792 (Adopting Release; SEC Release No. 34-63241)