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Printer-Friendly Last Updated: 2/8/07 Interpretations of Financial and Operational Rules

To assist broker-dealers in complying with the SEC Rules regarding financial and operational matters, FINRA is publishing certain interpretations provided by the staff of the Division of Market Regulation of the U.S. Securities and Exchange Commission. We will add interpretations to these pages each month, and we encourage you to check here regularly. These pages do not include all interpretations relevant to the financial and operations rules; we will publish interpretations that are new, those that potentially affect many members, those on which we seem to receive the most questions, and those on which we believe that a reminder to the membership would be timely. On separate pages, we will publish certain withdrawn interpretations, for use in historical research.

Active interpretation titles are listed alphabetically and are grouped by similarity of topic. Withdrawn interpretation titles are listed alphabetically.

The citation below each interpretation indicates the source of the information. Unless the citation specifically indicates a "letter" or other written document, the particular interpretation is verbal in nature.

Questions concerning these interpretations may be directed to FINRA’s Financial Operations Department at (202) 728-8221.

Active Interpretations:

• Net Capital Rule, SEC Rule 15c3-1
• Customer Protection Rule, SEC Rule 15c3-3
• Records to be Made and Preserved by Broker-Dealer, SEC Rule 17a-3
• Reports to be Made By Certain Brokers and Dealers, SEC Rule 17a-5
• Quarterly Security Counts, SEC Rule 17a-13

Withdrawn Interpretations:

• Net Capital Rule, SEC Rule 15c3-1, Withdrawn
• Customer Protection Rule, SEC Rule 15c3-3, Withdrawn