• Length:
    2 Weeks
  • Effort:
    2–3 hours per week
  • Price:
    $449 USD
  • Institution
  • Subject:
  • Level:
    Intermediate
  • Language:
    English
  • Video Transcript:
    English

About this course

Rule15C3-3, or the “Customer Protection Rule” as it’s also known, dictates the minimum amount of securities and cash that broker-dealers must hold in secure accounts on behalf of their clients. The goal is to ensure that customers can always access a large portion of their funds, even if the firm itself becomes insolvent.

This online course provides an opportunity to learn how the three main purposes of the Rule 15C3-3 protect customer interests and how they affect the regulatory environment within firms.

We’ll begin with a high-level overview of the Regulatory Environment, and then explore the brief history of the Customer Protection Rule and its origin. We’ll then move to operations, which is a vital conversation since Rule 15C3-3 is an operations based rule. We’ll cover Settlement, Margin, Stock Record, and Financing Tools and then finally dive deep into the actual 15C3-3 rule.

This online course comprises of the following 3 modules which are packed with interesting video lectures and exercises:

  • Module 01: Introduction
  • Module 02: Operations
  • Module 03: Rule 15C3-3 Reserve Formula

What you'll learn

  • Background and reasoning for the Rule’s existence.
  • The difference between customers and non-customers as applied by the Rule.
  • How the stock record allocation works and why certain balance makes it into the reserve formula.
  • How possession or control requirements are calculated and the actions necessary when securities are in deficit.
  • How to review actual FOCUS Reserve Formula allocation
  1. Module 1: Introduction
    • Lesson 1: Regulatory Environment Overview
    • Lesson 2: Rule 15C3-3 Reserve Formula
  2. Module 2: Operations
    • Lesson 1: Settlement
    • Lesson 2: Custody and Asset Servicing
    • Lesson 3: Margin
    • Lesson 4: Stock Record
  3. Module 3: Rule 15C3-3 Reserve Formula
    • Lesson 1: Rule 15C3-3 Reserve Formula

Meet your instructors

Stephen Zak
Instructor
New York Institute of Finance