Ill. Admin. Code tit. 14, § 130.826 - Registered Dealer Net Capital Requirements
a) Each dealer registered under Section 8 of
the Act shall at all times have and maintain net capital no less than the
greater of the higher minimum requirement applicable to its ratio requirement
under 17 CFR 240.15c3 - 1 (May 31, 2011). No dealer electing to use the
alternative standard shall permit its net capital to be less than the greater
of the amount set forth in 17 CFR 240.15c3 - 1 (May 31, 2011) or 2 percent of
the aggregate debit items computed in accordance with 17 CFR 240.15c3 - 3 (May
31, 2011).
b) In addition to
meeting the requirement set forth in subsection (a), a dealer subject to the
aggregate indebtedness standard of net capital computation shall maintain the
amount specified in 17 CFR 240.15c3 - 1 (May 31, 2011).
c) Each dealer shall make the applicable
computations set forth in subsection (a) in accordance with the provisions of
17 CFR 240.15c3 - 3 (May 31, 2011) and shall preserve the computations as part
of the records required by Section
130.825.
d) The Secretary may exempt a dealer from the
requirements of this Section because of the special nature of business or
financial position of the dealer and the safeguards that have been established
for the protection of customers' funds and securities, and it is not necessary
in the public interest or for the protection of investors for the dealer to be
subject to the requirements of this Section.
Notes
Amended at 36 Ill. Reg. 2852, effective February 8, 2012
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