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Securities Enforcement and Regulatory Update

SEC Issues Industry Relief to Broker-Dealers Regarding the Computation of Concentrated Margin Debit Balances under SEC Rule 15c3-3 for Certain Investment Funds

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On January 8, 2020, the Staff of the SEC issued significant industry guidance through a “no-action” letter regarding so-called “concentrated debits” under SEC Rule 15c3-3, Appendix A, Note E(5) (the SEC’s customer protection rule).

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