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Exemption Expiration for New SEC Financial Responsibility Rules

March 3, 2014

As a reminder, the SEC adopted amendments to the net capital, customer protection, books and records, and notification rules (SEA Rules 15c3-1, 15c3-3, 17a-3, 17a-4 and 17a-11), and amended annual reporting and audit requirements under SEA Rule 17a-5. Certain of the new rules were to take effect on October 21, 2013. However, on October 17 the SEC issued an order providing broker-dealers a temporary exemption from specified requirements. The temporary exemption will expire on March 3, 2014, and applies to the following new amendments to the SEC’s rules:

  • Rule 15c3-3, except paragraph (j)(1);
  • Rule 15c3-3a;
  • Rule 17a-3;
  • Rule 17a-4; and
  • paragraph (c)(2)(iv)(E)(2) of Rule 15c3-1.


March 3, 2014
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