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8000 - Miscellaneous Statutes and Regulations


PART 405—REPORTS AND AUDIT

Sec.

405.1 Application of part to registered brokers and dealers and to financial institutions; transition rule.
405.4 Financial recordkeeping and reporting of currency and foreign transactions by registered government securities brokers and dealers.

AUTHORITY:  15 U.S.C. 78o--5(b)(1)(B), (b)(1)(C), (b)(2), (b)(4).

SOURCE:  The provisions of this Part 405 appear at 52 Fed. Reg. 27954, July 24, 1987, except as otherwise noted.

§ 405.1  Application of part to registered brokers and dealers and to financial institutions; transition rule.

(a)  Compliance by registered brokers or dealers with §§ 240.17a--5, 240.17a--8, and 240.17a--11 of this title (Commission Rules 17a--5, 17a--8 and 17a--11), including provisions of those rules relating to OTC derivatives dealers, constitutes compliance with this part.

(b)  A government securities broker or dealer that is a financial institution and is subject to financial reporting rules of its appropriate regulatory agency is exempt from the provisions of §§ 405.2 and 405.3.

(c)  This part shall be effective July 25, 1987, provided however,

(1)  That registered government securities brokers or dealers shall first be required to file the reports required by § 240.17a--5(a), by virtue of § 405.2, for the month and the quarter during which they were first required to comply with Part 402 of this chapter other than the interim liquid capital requirements of § 402.1(f); but that

(2)  For any quarter ending prior to the quarter during which they were first required to comply with Part 402 of this chapter other than the interim liquid capital requirements of § 402.1(f), registered government securities brokers or dealers shall file with the designated examining authority for such registered broker or dealer, within 17 business days after the close of the quarter, an unaudited balance sheet (with appropriate notes) for such quarter, prepared in accordance with generally accepted accounting principles.

[Codified to 17 C.F.R. § 405.1]

[Section 405.1 amended at 71 Fed. Reg. 54411, September 15, 2006]

§ 405.4 Financial recordkeeping and reporting of currency and foreign transactions by registered government securities brokers and dealers.

Every registered government securities broker or dealer who is subject to the requirements of the Currency and Foreign Transactions Reporting Act of 1970 shall comply with the reporting, recordkeeping and record retention requirements of 31 CFR Part 103. Where 31 CFR Part 103 and § 404.3 of this chapter require the same records to be preserved for different periods of time, such records or reports shall be preserved for the longer period of time.

[Codified to 17 C.F.R. § 405.4]


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