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SEC adopts amendments to broker-dealer Customer Protection Rule

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Photo: M. Stroud/Express/Hulton Archive/Getty Images
Julie DiMauro profile image

Julie DiMauro

3 min read

Certain broker-dealers must now compute customer and reserve deposit requirements, making required deposits into reserve accounts on a daily rather than weekly basis.

The SEC just adopted amendments to Rule 15c3-3 (the Customer Protection Rule) to require certain broker-dealers (known as PAB account holders) to increase the frequency with which they perform computations of the net cash they owe to customers and other broker-dealers from weekly to daily.

The amended rule will

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