Source: https://ecfr.io/Title-17/Section-405.3
Timestamp: 2020-08-06 20:47:11
Document Index: 679685507

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

17 CFR § 405.3 Notification provisions for certain registered government securities brokers and dealers - Code of Federal Regulations ';
SECTION 405.3
(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.
(5) Section 240.17a-11(c), for the purposes of this section, is modified to read as follows:
(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.
(3) References to “net capital” mean net capital calculated as provided 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:
(1) References to “broker or dealer” include government securities brokers and dealers.
(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.
(5) Section 240.17a-11(c) for the purposes of this section is modified to read as follows:
(6) A new paragraph 240.17a-11(c)(4) is added to read as follows:
(7) References to § 240.17a-3, relating to records, mean § 404.2 of this chapter.
(Approved by the Office of Management and Budget under control number 1535-0089) [52 FR 27954, July 24, 1987, as amended at 59 FR 53731, Oct. 26, 1994; 59 FR 55910, Nov. 9, 1994; 60 FR 18734, Apr. 13, 1995]