What is Rule 15c3-5?
Exchange Act Rule 15c3-5 (Market Access Rule) requires broker-dealers with market access or that provide market access to their customers to “appropriately control the risks associated with market access so as not to jeopardize their own financial condition, that of other market participants, the integrity of trading …
What is 15c3 regulation?
Securities and Exchange Commission (SEC) Rule 15c3-3 requires brokerage firms to maintain secure accounts. Also known as the Customer Protection Rule, SEC Rule 15c3-3 is part of the Code of Federal Regulations. It ensures that brokerage clients can withdraw assets at any time, and a brokerage has to work to uphold it.
Why was the market access rule implemented?
To mitigate the risks related to market access, and thereby enhance market integrity and investor protection in the securities markets, the Securities and Exchange Commission (SEC) adopted Rule 15c3-5 under the Securities Exchange Act of 1934.
What does FINRA stand for?
the Financial Industry Regulatory Authority
FINRA Utility Menu To protect investors and ensure the market’s integrity, FINRA—the Financial Industry Regulatory Authority—is a government-authorized not-for-profit organization that oversees U.S. broker-dealers.
What is direct market access trading?
What Is Direct Market Access (DMA)? Direct market access (DMA) refers to access to the electronic facilities and order books of financial market exchanges that facilitate daily securities transactions. Direct market access requires a sophisticated technology infrastructure and is often owned by sell-side firms.
Who is not required to be fingerprinted at a broker-dealer?
Specifically, for broker-dealers, one need not be fingerprinted if one is: a) not engaged in the sale of securities, b) doesn’t have regular access to the keeping, handling or processing of securities, monies, or original books and records relating to securities or monies of the broker-dealer, and c) does not have …
What is SEC Rule 17A 5?
SEC Form X-17A-5 is a financial reporting form that all broker-dealers who are registered with the U.S. Securities and Exchange Commission (SEC) must complete. This form consists of three parts and contains an annual audit that must be performed by a certified public accountant (CPA).
What are the rules on market access?
WTO law provides three main groups of rules on market access: rules governing customs duties (tariffs), rules governing quantitative restrictions (quotas), and rules governing other non-tariff barriers such as technical regulations and standards, sanitary and phytosanitary measures, customs formalities and government …
What is the SHO list?
A threshold list, also known as a Regulation SHO Threshold Security List, is a list of securities whose transactions failed to clear during the previous trading days. Threshold lists are published in accordance with regulations set out by the Securities and Exchange Commission (SEC).