The SEC provided firms with a temporary exemption from certain requirements under recently-adopted amendments to its broker-dealer financial responsibility rules.
The amendments – established new requirements under the Securities Exchange Act of 1934 in the areas of net capital, customer protection and books and records. The exemptions expired on March 3, 2014, and related to Rule 15c3-3, except paragraph (j)(1); Rule 15c3-3a; Rule 17a-3; Rule 17a-4; and Rule 15c3-1 paragraph (c)(2)(iv)(E)(2).
BDs must now be in compliance.
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