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SEC Rule 15c3-3

Regulates the custody and protection of customer securities and funds by broker-dealers, aiming to prevent broker-dealers from using customer assets for their own purposes.

Rule Overview

Jurisdiction: United States

Regulator: SEC

Topic: Consumer Protection

Overview
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Further Reading

This rule requires broker-dealers to maintain a reserve account and segregate customer securities to prevent use for own purposes, ensuring the safety and security of customer assets.

It specifies requirements for broker-dealers to hold customer securities in a separate account, known as a “special custody account” or “control location”, and to maintain a reserve account with a bank, which must contain a certain percentage of the total customer credits.

The rule also outlines procedures for buying in securities, resolving short positions, and obtaining extensions of time.

Latest News More on SEA 1934 Rule 15c3-3 

Further Reading

FINRA SEA Rule 15c3-3 and Related Interpretations Go to https://www.finra.org/rules-guidance/guidance/interpretations-financial-operational-rules/sea-rule-15c3-3-and-related-interpretations CFR 2010 Go to https://www.govinfo.gov/content/pkg/CFR-2010-title17-vol3/pdf/CFR-2010-title17-vol3-sec240-15c3-3.pdf