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Electronic Code of Federal Regulations

e-CFR data is current as of February 18, 2020

Title 17Chapter IVSubchapter APart 404 → §404.3


Title 17: Commodity and Securities Exchanges
PART 404—RECORDKEEPING AND PRESERVATION OF RECORDS


§404.3   Records to be preserved by registered government securities brokers and dealers.

(a) Every registered government securities broker or dealer, except a government securities interdealer broker subject to the financial responsibility rules of §402.1(e) and a registered government securities broker or dealer that is also a futures commission merchant registered with the CFTC, shall comply with the requirements of §240.17a-4 of this title (SEC Rule 17a-4), with the following modifications:

(1) References to “broker or dealer” and “broker and dealer registered pursuant to Section 15 of the Act” include registered government securities brokers or dealers.

(2) References to §§240.17a-3, .17a-4, and .17a-5 mean such sections as modified by this part and part 405 of this chapter.

(3) References to §240.15c3-1, relating to net capital, and “Computation for Net Capital” thereunder mean §402.2 of this chapter and the computation of the ratio of liquid capital to total haircuts required thereunder.

(4) References to §240.15c3-3, relating to possession or control of customer securities and balances, mean §403.4 of this chapter.

(5) References to Form X-17A-5 mean Form G-405 (§449.5 of this chapter).

(6) The computation described in §240.17a-4(b)(8)(x) is not required.

(b) A government securities interdealer broker subject to the financial responsibility rules of §402.1(e) and a registered government securities broker or dealer that is also a futures commission merchant registered with the CFTC, shall comply with the requirements of §240.17a-4 of this title (SEC Rule 17a-4), with the following modifications:

(1) References to “broker or dealer” and “broker and dealer” include registered government securities brokers or dealers.

(2) References to §§240.17a-3, 240.17a-4, and 240.17a-5 mean such sections as modified by this part and part 405 of this chapter.

(3) With respect to a government securities interdealer broker subject to the financial responsibility rules of §402.1(e) of this chapter, references to §240.15c3-1, relating to net capital, and “Computation for Net Capital” thereunder include the modifications contained in §402.1(e) of this chapter.

(4) References to §240.15c3-3, relating to possession or control of customer securities and balances, mean §403.4 of this chapter.

(c) This section shall be effective on July 25, 1987.

(Approved by the Office of Management and Budget under control number 1535-0089)

[52 FR 27952, July 24, 1987, as amended at 60 FR 11026, Mar. 1, 1995]

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