Banks Raise $34 Billion to Comply with SEC Rule, Effective Today
Tim Fries, 22 April 2021
Having the collateral to cover stock trading is important to oil the market cogs. With margin trading, it is critical, a lesson learned the hard way from “Bill” Hwang last month. From today, the SEC will decide which brokerages failed to cover their securities trading, and what punishments it will dish out.
What is SEC Rule 15c3-3?
Even free market absolutists understand that rules of the playing field have to be followed to maintain the ecosystem. The U.S. Securities and Exchange Commission (SEC) is the final arbiter in this arena. Although this regulatory agency too suffers from the “revolving door” syndrome, on paper, the SEC is in charge of ensuring market participants play fairly. Continue reading “Article: Banks Raise $34 Billion to Comply with SEC Rule, Effective Today”
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