6.10.503    MINIMUM FINANCIAL REQUIREMENTS AND FINANCIAL REPORTING OF BROKER-DEALERS

(1) Each broker-dealer registered or required to be registered under this act shall comply with SEC rule 15c3-1 (17 CFR 240.15c3-1 (1998)), 15c3-2 (17 CFR 240.15c3-2 (1998)), and 15c3-3 (17 CFR 240.15c-3 (1998)).

(2) Each broker-dealer registered or required to be registered under this act shall comply with SEC rule 17a-11 (17 CFR 240.17a-11 (1998)) and shall file with the commissioner upon request copies of notices and reports required under SEC rules 17a-5 (17 CFR 240.17a-5 (1998)), 17a-10(17 CFR 240.17a-10 (1998)), and 17a-11 (17 CFR 240.17a-11 (1998)).

(3) The commissioner adopts and incorporates by reference the rules cited in (1) and (2), which establish net capitalization requirements, customer free credit balance requirements, customer protection reserves, net capital decline reporting requirements, and capitalization reporting requirements. A copy of these rules may be obtained from the Office of the Montana State Auditor, 840 Helena Avenue, Helena, MT 59601.

History: 30-10-107, MCA; IMP, 30-10-107, 30-10-201, MCA; NEW, 1999 MAR p. 56, Eff. 1/15/99; TRANS and AMD, from ARM 6.10.136, 2008 MAR p. 2046, Eff. 9/26/08; AMD, 2020 MAR p. 1874, Eff. 10/24/20.