Page 43 - 期货和衍生品行业监管动态（2024年12月刊）

期货和衍生品行业监管动态

daily. The Commission also adopted amendments to Rule 15c3-3 and Rule 15c3-1

(the broker-dealer net capital rule) to permit certain broker-dealers that perform a

daily customer reserve computation to decrease the required 3 percent “buffer” in the

customer reserve bank account by reducing the customer-related receivables, or

“aggregate debit items,” charge from 3 percent to 2 percent in the computation.

“Our markets have dramatically evolved since the 1972 adoption of Rule 15c3-3,

otherwise known as the Customer Protection Rule,” said SEC Chair Gary Gensler.

“I’m pleased to support this adoption because it helps protect customers and the

Securities Investor Protection Corporation Fund, while promoting greater trust in the

markets.”

Broker-dealers may have large deposit requirements that indicate that there may

be times when the net amount of cash owed to customers and PAB account holders is

substantially greater than the amounts on deposit in the special reserve bank accounts.

The amendments will require broker-dealers with average total credits (the amount of

cash they owe customers and PAB account holders) equal to or greater than $500

million to make the computations necessary to determine the amounts required to be

deposited in the customer and PAB reserve bank accounts daily, as of the close of the

previous business day. By reducing the timeframe between computations, the
amendments will assist broker-dealers in more dynamically matching the net amount

of cash owed to customers and PAB account holders with the amount on deposit in the

broker-dealer’s customer and PAB reserve bank accounts. The amendments will also

more quickly apply the protective measures of the Rule 15c3-3 reserve requirements

to cash of customers and PAB account holders that is newly deposited into the

broker-dealer. This will reduce the risk that, if the broker-dealer fails financially, it

may be unable to promptly return cash and securities to customers and PAB account

holders through an orderly self-liquidation.

Today’s amendments also recognize that the enhancements to the customer

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