Source: http://www.law.cornell.edu/cfr/text/17/402.2?quicktabs_7=1
Timestamp: 2014-07-10 10:46:29
Document Index: 556875730

Matched Legal Cases: ['art 402', '§ 402', '§ 240', '§ 402', '§ 240', '§ 403', '§ 402', '§ 402']

17 CFR 402.2 - Capital requirements for registered government securities brokers and dealers. | LII / Legal Information Institute
CFR › Title 17 › Chapter IV › Subchapter A › Part 402 › Section 402.2 17 CFR 402.2 - Capital requirements for registered government securities brokers and dealers.
§ 402.2
Capital requirements for registered government securities brokers and dealers.
No government securities broker or dealer shall permit its liquid capital to be below an amount equal to 120 percent of total haircuts as defined in paragraph (g) of this section.
Minimum liquid capital for brokers or dealers that carry customer accounts.
Notwithstanding the provisions of paragraph (a) of this section, a government securities broker or dealer that carries customer or broker or dealer accounts and receives or holds funds or securities for those persons within the meaning of § 240.15c3-1(a)(2)(i) of this title, shall have and maintain liquid capital in an amount not less than $250,000 (see paragraph (a) of appendix E to this section, § 402.2e, for temporary minimum requirements), after deducting total haircuts as defined in paragraph (g) of this section.
Minimum liquid capital for brokers or dealers that carry customer accounts, but do not generally hold customer funds or securities.
Notwithstanding the provisions of paragraphs (a) and (b)(1) of this section, a government securities broker or dealer that carries customer or broker or dealer accounts and is exempt from the provisions of § 240.15c3-3 of this title, as made applicable to government securities brokers and dealers by § 403.4 of this chapter, pursuant to paragraph (k)(2)(i) thereof (17 CFR 240.15c3-3(k)(2)(i)), shall have and maintain liquid capital in an amount not less than $100,000 (see paragraph (b) of appendix E to this section, § 402.2(e), for temporary minimum requirements), after deducting total haircuts as defined in paragraph (g) of this section.
Minimum liquid capital for introducing brokers that receive securities.
Notwithstanding the provisions of paragraphs (a) and (b) of this section, a government securities broker or dealer that introduces on a fully disclosed basis transactions and accounts of customers to another registered or noticed government securities broker or dealer but does not receive, directly or indirectly, funds from or for, or owe funds to, customers, and does not carry the accounts of, or for, customers shall have and maintain liquid capital in an amount not less than $50,000 (see paragraph (c) of appendix E to this section, § 402.2(e), fo