Background To and Adoption of Net Capital Rule
The SEC's "Uniform Net Capital Rule" (the "Basic Method") was adopted in 1975 following a financial market and broker record-keeping crisis during the period from 1967-1970. In the same 1975 release that adopted the Basic Method, the SEC established the "Alternative Net Capital Requirement for Certain Brokers and Dealers" (the "Alternative Method"). The SEC had maintained a net capital rule since 1944, but had exempted broker-dealers subject to "more comprehensive" capital requirements imposed by identified exchanges such as the New York Stock Exchange (NYSE). The 1975 uniform net capital rule continued many features of the existing SEC net capital rule, but adopted other (more stringent) requirements of the NYSE net capital rule.
Read more about this topic: Net Capital Rule
Famous quotes containing the words background, adoption, net, capital and/or rule:
“In the true sense one’s native land, with its background of tradition, early impressions, reminiscences and other things dear to one, is not enough to make sensitive human beings feel at home.”
—Emma Goldman (1869–1940)
“Frankly, I adore your catchy slogan, “Adoption, not Abortion,” although no one has been able to figure out, even with expert counseling, how to use adoption as a method of birth control, or at what time of the month it is most effective.”
—Barbara Ehrenreich (b. 1941)
“Mental events such as perceivings, rememberings, decisions, and actions resist capture in the net of physical theory.”
—Donald Davidson (b. 1917)
“If Los Angeles has been called “the capital of crackpots” and “the metropolis of isms,” the native Angeleno can not fairly attribute all of the city’s idiosyncrasies to the newcomer—at least not so long as he consults the crystal ball for guidance in his business dealings and his wife goes shopping downtown in beach pajamas.”
—For the State of California, U.S. public relief program (1935-1943)
“This administration is going to be a compassionate administration. We believe in the Golden Rule of doing unto others as you would have them do unto you.”
—Lyndon Baines Johnson (1908–1973)