What is SEC Rule 17a 3?
What is SEC Rule 17a 3?
Rule 17a-3 requires brokers and dealers to create and preserve comprehensive records of each securities trade, including copies of blotters, account statements, trade confirmations, cancelled checks and more.
What is a 17a?
SEC Rule 17a-4 is a regulation issued by the U.S. Securities and Exchange Commission pursuant to its regulatory authority under the US Securities Exchange Act of 1934 (Known simply as the “Exchange Act”) which outlines requirements for data retention, indexing, and accessibility for companies which deal in the trade or …
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 is SEC Form 17 A?
This SEC Form 17-A shall be used for annual reports filed pursuant to Section 17 of the Securities Regulation Code (SRC) and paragraph (1)(A) of SRC Rule 17.1 thereunder. Annual reports shall be filed within one hundred five (105) calendar days after the end of the fiscal year covered by the report.
What is 17a 11?
Adopted in 1971, SEC Rule 17a-11 requires broker/dealers to report net capital and other operational problems and to file reports regarding those problems within certain time periods. The SEC adopted the proposed amendments substantially as proposed.
What is a D3P letter?
Rule 17a-4(f)(3)(vii) – Letter of Undertaking Prepared by the Broker Dealer’s Designated Third Party (D3P) to represent the D3P will assist, if requested, in the production of the Broker Dealer’s electronic records.
How long must communications be preserved to comply with FINRA and SEC rules?
Communications with the Public Record Retention: Three years, the first two years in an easily accessible place.
What is finra Focus report?
A FINRA Financial and Operational Combined Uniform Single (FOCUS) report includes a balance sheet, income statement, net capital calculation, and equity reconciliation. The intent is to demonstrate to regulators the financial position of the firm and its ability to maintain sufficient net capital.
