Source: http://ecfr.io/Title-17/pt17.4.405
Timestamp: 2019-12-14 21:27:18
Document Index: 774632101

Matched Legal Cases: ['art 405', 'art 405', 'art 405', '§405', '§405', '§402', '§240', '§240', '§402', '§402', '§240', '§405', '§402', '§402', '§402', '§240', '§404', '§402', '§240', '§240', '§402', '§240', '§405', '§240', '§404', '§240', '§240', '§240', '§1', '§240', '§1', '§240', '§405', '§1', '§4', '§1', '§240', '§404', 'art 103', 'art 103', '§404']

[17 CFR 405] Title 17 Part 405 : Code of Federal Regulations ';
Title 17 Part 405
Title 17 → Chapter IV → Subchapter A → Part 405
§405.3 Notification provisions for certain registered government securities brokers and dealers.
§405.4 Financial recordkeeping and reporting of currency and foreign transactions by registered government securities brokers and dealers.
(a) Every registered government securities broker or dealer, other than a government securities interdealer broker that is subject to the financial responsibility requirements of §402.1(e) and a government securities broker or dealer that is also a futures commission merchant registered with the CFTC, shall comply with the requirements of §240.17a-11 of this title (SEC Rule 17a-11), with the following modifications:
(2) References to §240.15c3-1, relating to net capital, mean §402.2 of this chapter.
(3) References to “net capital” mean “liquid capital” as defined in §402.2 of this chapter.
(4) References to §240.17a-5, relating to reports and audit, mean §405.2(a) of this chapter.
“(c) Every registered government securities broker or dealer shall send notice promptly (but within 24 hours) in accordance with paragraph (g) of this section if a computation made pursuant to the requirements of §402.2 of this title shows, at any time during the month, that its liquid capital is less than 150 percent of total haircuts, determined in accordance with §402.2 of this title, or that its capital after deducting total haircuts from liquid capital is less than 120 percent of the registered government securities broker or dealer's minimum capital requirement specified in §402.2 (b) or (c) of this title as applicable.”
(6) References to §240.17a-3, relating to records, mean §404.2 of this chapter.
(b) A government securities interdealer broker that is subject to the financial responsibility requirements of §402.1(e) of this chapter shall comply with the requirements of §240.17a-11 of this title (SEC Rule 17a-11), with the following modifications:
(2) References to §240.15c3-1, relating to net capital, include the modifications contained in §402.1(e) of this chapter.
(4) References to §240.17a-5, relating to reports and audit, mean §405.2(b) of this chapter.
(5) References to §240.17a-3, relating to records, mean §404.2 of this chapter.
(c) A registered government securities broker or dealer that is also a futures commission merchant registered with the CFTC shall comply with the requirements of §240.17a-11 of this title (SEC Rule 17a-11), with the following modifications:
(2) References to §240.15c3-1, relating to net capital, mean either §240.15c3-1 or §1.17 of this title, depending on which computation results in the higher net capital requirement.
(3) References to “net capital” mean the higher of net capital calculated under §240.15c3-1 or §1.17 of this title.
(4) References to §240.17a-5, relating to reports and audit, mean §405.2(c) of this chapter.
“(A) 150 percent of the appropriate minimum dollar amount required by §1.17(a)(1)(i), or
“(B) 6 percent of the following amount: The customer funds required to be segregated pursuant to §4d(2) of the Commodity Exchange Act and §1.17 of this title, less the market value of commodity options purchased by option customers on or subject to the rules of a contract market, provided, however, the deduction for each option customer shall be limited to the amount of customer funds in such option customer's account; or
(7) References to §240.17a-3, relating to records, mean §404.2 of this chapter.
Every registered government securities broker or dealer who is subject to the requirements of the Currency and Foreign Transactions Reporting Act of 1970 shall comply with the reporting, recordkeeping and record retention requirements of 31 CFR part 103. Where 31 CFR part 103 and §404.3 of this chapter require the same records to be preserved for different periods of time, such records or reports shall be preserved for the longer period of time.