Customer Protection Rule 15c3-3
This course is now being offered online: Customer Protection Rule 15C3-3 - Online
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Module 1: Securities regulation overview
- Securities exchange act of 1933-1934
- Securities & exchange commission
- Self-Regulatory Organization (SRO)
- Designated Examining Authority
Module 2: Overview of SEC rule 15c3-3
- Customer Protection rule
- Relationship to Net Capital Rule
- Inclusion in the FOCUS report
- Securities and funds protection
- Special reserve bank account
- Firm vs. customer-related business
- Liquidation of insolvent B/D
Module 3: Definitions and terms used in application of the rule
- Customer
- Omnibus account vs. Fully disclosed Broker Dealer
- Fully paid securities vs. margin securities
- Excess margined Securities
- Restricted stock
- Subordinated loans
- Seg control
- Haircuts
- Qualified security
- SFT, EFT, CMO (and the rest of the alphabet soup)
- Possession or Control requirements
- Exempt Security
- Concentrated position
- Subordinated Accounts
- Special Bank Account
Module 4: Broker-dealer operations
- Transaction cycle from market to settlement to asset servicing
- Margined Securities and funding
- Seg control
- Corporate action control
- Settlement allocations
- Reading the Stock Record
- Explanation of Stock Record's memo fields
Module 5: Protection of customer securities
- Possession or control
- Control locations
- Accomplish vs. Instructional seg
Module 6: Reserve formula computation
- Comparison between debits and credits
- Exemptions
- SEC exemptions
- Frequency of computation
Module 7: Reserve formula - Credit side
- Customer credit balances
- Customer bank/security loan
- Customer fail to receive
- Credits in firm accounts
- Short stock dividends and distributions
- Short security differences
- Suspense accounts
- Unconfirmed transfers
Module 8: Reserve formula - Debit side
- Customer debit balances
- Partly secured accounts
- Special omnibus or similar accounts
- Undue concentration
- Securities borrowed for customer transactions
- Fail to deliver of customer securities
- Margin required by options clearing corporation
Module 9: Work Exercises
- Trial Balance account selection
- Minimizing reserve deposit
- Optimization of Seg
- Standard and Alternate method computations