Broker Dealer Regulation - Financial Responsibilities - Comment Letter - Federated Investors - June 1, 2012

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Timeline, Financial Responsibility Rules for Broker Dealers
Re-proposal Date Final Rule Issue Effective Date
May 9, 2012 August 21, 2013 October 21, 2013

Amendments to Financial Responsibility Rules for Broker-Dealers
June 1, 2012

From the comment letter:

"U.S. government money market funds did not exist in 1972 when the Commission adopted Rule 15c3-3 and permitted broker-dealers to deposit only cash or Treasury securities in the Reserve Account. The addition of U.S. government money market funds provides an appropriate alternative for the investment of Rule 15c3-3 customer funds and would facilitate the placement of this large pool of customer cash among a greater number of financial institutions. Federated strongly endorses the Commission's 2007 Rule Proposal to amend Rule 15c3-3(a)(6) to include U.S. government money market funds."


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