Accounting guide brokers and dealers in securities pdf

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accounting guide brokers and dealers in securities pdf

Institutional - Government Securities Act (GSA) Regulations

We do not expect that securities and futures firms will need to apply each of the five risk factors to every correspondent account relationship they establish, maintain, administer, or manage for a foreign financial institution. Rather, securities and futures firms may apply some subset of the five enumerated factors when conducting due diligence on a foreign financial institution, depending upon their determination of the nature of the foreign financial institution they are assessing and the relative money laundering risk posed by such institution. The due diligence programs of securities and futures firms should provide, as appropriate, for the consideration of additional factors that have not been enumerated in the rule when assessing foreign financial institutions with a unique risk profile or those that pose high risk. Intermediated Relationships under the Correspondent Account Rule We also have been asked to address how securities and futures firms should treat certain intermediaries and intermediated relationships for the purpose of complying with the due diligence provisions of the correspondent account rule. Under the correspondent account rule, a securities or futures firm is required to perform due diligence on a foreign financial institution for which an omnibus account is established or maintained.
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The Three Types Of Broker-Dealers After DoL Fiduciary

The list was compiled using the resources of the University of Mississippi library.

Guide to Broker-Dealer Registration

Company Filings More Search Options. The Securities Exchange Act of "Exchange Act" or "Act" governs the way in which the nation's securities markets and its brokers and dealers operate. We have prepared this guide to summarize some of the significant provisions of the Act and its rules. You will find information about whether you need to register as a broker-dealer and how you can register, as well as the standards of conduct and the financial responsibility rules that broker-dealers must follow. Although this guide highlights certain provisions of the Act and our rules, it is not comprehensive.

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You are currently using the site but have requested a page in the site. Would you like to change to the site? It details specialized accounting and regulatory requirements for the broker-dealer industry. Detailed chapters provide comprehensive examinations of timely subjects. For example, the chapter on the securities industry covers discount brokers, investment bankers, government securities dealers, clearing brokers, and other professions.

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