July 13, 2023 BY Steffy Bogdanova
SEC proposes changes to safeguard customers from potential broker-dealer failures
The US securities regulator explained that broker-dealers may encounter significant deposit obligations from time to time due to customer and PAB reserve calculations. SEC is suggesting that broker-dealers with a net cash balance of $250 million or more must perform daily calculations and promptly deposit the corresponding cash into the reserve account by the close…
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