SEC Issues FAQs on Broker-Dealers’ Financial Responsibility During COVID-19 Pandemic
SEC Issues FAQs on Broker-Dealers’ Financial Responsibility During COVID-19
June 8, 2020
The SEC’s Division of Trading and Markets has issued frequently asked questions (FAQs) about “certain provisions of
the broker-dealer financial responsibility rules during the COVID-19 pandemic.”
Specifically, the FAQs address the following topics:
Whether “a broker-dealer participating in the Federal Reserve Money Market
Mutual Fund Liquidity Facility (MMLF) [has] to take capital charges for
securities purchased from a money market mutual fund.”
Prompt transmission of customer checks under Rule 15c3-3(k)(2).
Quarterly securities count of physical certificates.