RULE 191-50.15 - Broker-dealer minimum financial requirements and financial reporting requirements

RULE 191-50.15. Broker-dealer minimum financial requirements and financial reporting requirements

(1) Each broker-dealer registered or required to be registered under the Act shall comply with SECRulesl5c3-l(17CFR240.15c3 -l), 15c3-2(17CFR240.15c3 - 2),andl5c3-3(17CFR240.15c3 - 3).

(2) Each broker-dealer registered or required to be registered under the Act shall comply with SEC Rule 17a-11(17 CFR 24017a-11.) and shall file with the administrator copies of notices of financial deficiencies, as required under SEC Rule 17a-ll (17 CFR 240.17a -ll).

(3) To the extent that the SEC amends the above-referenced rules, broker-dealers complying with such rules as amended shall not be subject to enforcement action by the administrator for violations resulting solely from the broker-dealer's compliance with the amended rules.

This rule is intended to implement Iowa Code section 502.411(2).

The following state regulations pages link to this page.