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Net Capital Rule - A Concept Release

Technical Data


17 CFR Part 240

[Release No. 34-39456; File No. S7-32-97]

RIN 3235-AH29

Net Capital Rule

AGENCY: Securities and Exchange Commission

ACTION: Concept Release; Request for Comments.

SUMMARY: The Securities and Exchange Commission is continuing its study of its approach to determining net capital requirements for broker-dealers. As part of its study, the Commission is considering the extent to which statistical models should be used in setting the capital requirements for a broker-dealer's proprietary positions. Accordingly, the Commission is posing a number of questions on this subject as well as soliciting views on other possible alternatives for establishing net capital requirements.

DATES: Comments must be received on or before [insert date 90 days after date of publication in the Federal Register].

ADDRESSES: Interested persons should submit three copies of their written data, views, and opinions to Jonathan G. Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street, N.W., Washington, D.C. 20549. Comments also may be submitted electronically at the following E-mail address: rule-comments@sec.gov. Comment letters should refer to File No.S7-32-97; this file number should be included on the subject line if E-mail is used. All submissions will be available for public inspection and copying at the Commission's Public Reference Room, 450 Fifth Street, N.W., Washington, D.C. 20549. Electronically submitted comment letters will be posted on the Commission's Internet web site (http://www.sec.gov).

FOR FURTHER INFORMATION CONTACT: Michael A. Macchiaroli, Associate- Director, at 202/942-0132; Peter R. Geraghty, Assistant Director, at 202/942-0177; Thomas K. McGowan, Special Counsel, at 202/942-4886; Marc J.Hertzberg, Attorney, at 202/942-0146; or Gary Gregson, Statistician, at 202/942-4156, Division of Market Regulation, Securities and Exchange Commission, 450 Fifth Street, N.W., Mail Stop 2-2, Washington, D.C. 20549.

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