{"database": "openregs", "table": "cfr_sections", "is_view": false, "human_description_en": "where part_number = 405 and title_number = 17 sorted by section_id", "rows": [["17:17:5.0.2.1.6.0.43.1", 17, "Commodity and Securities Exchanges", "IV", "A", "405", "PART 405\u2014REPORTS AND AUDIT", "", "", "", "\u00a7 405.1 Application of part to registered brokers and dealers and to financial institutions; transition rule.", "SEC", "", "", "[52 FR 27954, July 24, 1987, as amended at 71 FR 54411, Sept. 15, 2006]", "(a) Compliance by registered brokers or dealers with \u00a7\u00a7 240.17a-5, 240.17a-8, and 240.17a-11 of this title (Commission Rules 17a-5, 17a-8 and 17a-11), including provisions of those rules relating to OTC derivatives dealers, constitutes compliance with this part.\n\n(b) A government securities broker or dealer that is a financial institution and is subject to financial reporting rules of its appropriate regulatory agency is exempt from the provisions of \u00a7\u00a7 405.2 and 405.3.\n\n(c) This part shall be effective July 25, 1987,  Provided however,\n\n(1) That registered government securities brokers or dealers shall first be required to file the reports required by \u00a7 240.17a-5(a), by virtue of \u00a7 405.2, for the month and the quarter during which they were first required to comply with part 402 of this chapter other than the interim liquid capital requirements of \u00a7 402.1(f); but that\n\n(2) For any quarter ending prior to the quarter during which they were first required to comply with part 402 of this chapter other than the interim liquid capital requirements of \u00a7 402.1(f), registered government securities brokers or dealers shall file with the designated examining authority for such registered broker or dealer, within 17 business days after the close of the quarter, an unaudited balance sheet (with appropriate notes) for such quarter, prepared in accordance with generally accepted accounting principles."], ["17:17:5.0.2.1.6.0.43.2", 17, "Commodity and Securities Exchanges", "IV", "A", "405", "PART 405\u2014REPORTS AND AUDIT", "", "", "", "\u00a7 405.2 Reports to be made by registered government securities brokers and dealers.", "SEC", "", "", "[52 FR 27954, July 24, 1987, as amended at 60 FR 11026, Mar. 1, 1995; 64 FR 1737, Jan. 12, 1999; 79 FR 38456, July 8, 2014]", "(a) Every registered government securities broker or dealer, except a government securities interdealer broker subject to the financial responsibility requirements of \u00a7 402.1(e) of this chapter and a government securities broker or dealer that is also a futures commission merchant registered with the CFTC, shall comply with the requirements of \u00a7 240.17a-5 of this title (SEC Rule 17a-5), with the following modifications:\n\n(1) References to \u201cbroker or dealer\u201d include registered government securities brokers and dealers.\n\n(2) References to \u201crules of the Commission\u201d or words of similar import include, where appropriate, the regulations contained in this subchapter.\n\n(3) References to Form X-17A-5 mean Form G-405 (\u00a7 449.5 of this chapter).\n\n(4) For the purposes of \u00a7 240.17a-5(a)(4) of this title, the Commission may, on the terms and conditions stated in that subparagraph, declare effective a plan with respect to Form G-405, in which case, that plan shall be treated the same as a plan approved with respect to Form X-17A-5.\n\n(5) References to \u201cnet capital\u201d mean \u201cliquid capital\u201d as defined in \u00a7 402.2(d) of this chapter.\n\n(6) References to \u00a7 240.15c3-1, relating to net capital, mean \u00a7 402.2 of this chapter.\n\n(7) Paragraph 240.17a-5(c)(2)(ii) is modified to read as follows:\n\n\u201c(ii) A footnote containing a statement of the registered government securities broker's or dealer's liquid capital, total haircuts, and ratio of liquid capital to total haircuts, determined in accordance with \u00a7 402.2 of this title. Such statement shall include summary financial statements of subsidiaries consolidated pursuant to \u00a7 402.2c of this title, where material, and the effect thereof on the liquid capital, total haircuts and ratio of liquid capital to total haircuts of the registered government securities broker or dealer.\u201d.\n\n(8) References to \u00a7 240.15c3-3 and the exhibits thereto, relating to possession or control of customer securities and reserve requirements, mean \u00a7 403.4 of this chapter.\n\n(9) The reference to \u00a7 240.15b1-2 of this title, relating to financial statements to be filed upon registration, means \u00a7 240.15Ca2-2.\n\n(10) The supplemental report described in \u00a7 240.17a-5(e)(4) of this title, concerning the Securities Investor Protection Act, is not required.\n\n(11) The statement described in \u00a7 240.17a-5(f)(2) of this title shall be headed \u201cNotice Pursuant to Section 405.2,\u201d and shall be filed within 30 days following the effective date of registration as a government securities broker or dealer.\n\n(12) References in \u00a7 240.17a-5(h)(2) of this title to \u00a7 240.17a-11 mean \u00a7 405.3(a) of this chapter.\n\n(b) A government securities interdealer broker subject to the financial responsibility requirements of \u00a7 402.1(e) of this chapter shall comply with the requirements of \u00a7 240.17a-5 of this title (SEC Rule 17a-5), with the following modifications:\n\n(1) References to \u201cbroker or dealer\u201d include government securities interdealer brokers;\n\n(2) References to \u201crules of the Commission\u201d or words of similar import include, where appropriate, the regulations contained in this subchapter.\n\n(3) References to \u201cnet capital\u201d mean net capital calculated as provided in \u00a7 402.1(e) of this chapter.\n\n(4) References to \u00a7 240.15c3-1, relating to net capital, include the modifications contained in \u00a7 402.1(e) of this chapter.\n\n(5) References to \u00a7 240.15c3-3 and the exhibits thereto, relating to possession or control of customer securities and reserve requirements, mean \u00a7 403.4 of this chapter.\n\n(6) The reference to \u00a7 240.15b1-2 of this title, relating to financial statements to be filed upon registration, means \u00a7 240.15Ca2-2.\n\n(7) The supplemental report described in \u00a7 240.17a-5(e)(4) of this title, concerning the Securities Investor Protection Act, is not required.\n\n(8) The statement described in \u00a7 240.17a-5(f)(2) of this title shall be headed \u201cNotice Pursuant to Section 405.2\u201d and shall be filed within 30 days following the effective date of registration as a government securities broker.\n\n(9) References in \u00a7 240.17a-5(h)(2) of this title to \u00a7 240.17a-11 mean \u00a7 405.3(b) of this chapter.\n\n(c) A registered government securities broker or dealer that is also a futures commission merchant registered with the CFTC shall comply with the requirements of \u00a7 240.17a-5 of this title (SEC Rule 17a-5), with the following modifications:\n\n(1) References to \u201cbroker or dealer\u201d include registered government securities brokers and dealers.\n\n(2) References to \u201crules of the Commission\u201d or words of similar import include, where appropriate, the regulations contained in this subchapter.\n\n(3) References to \u00a7 240.15c3-3 and the exhibits thereto, relating to possession or control of customer securities and reserve requirements, mean \u00a7 403.4 of this chapter.\n\n(4) The reference to \u00a7 240.15b1-2 of this title, relating to financial statements to be filed upon registration, means \u00a7 240.15Ca2-2.\n\n(5) The supplemental report described in \u00a7 240.17a-5(e)(4) of this title, concerning the Securities Investor Protection Act, is not required.\n\n(6) The statement described in \u00a7 240.17a-5(f)(2) of this title shall be headed \u201cNotice Pursuant to \u00a7 405.2,\u201d and shall be filed within 30 days following the effective date of registration as a government securities broker or dealer.\n\n(7) References in \u00a7 240.17a-5(h)(2) of this title to \u00a7 240.17a-11 mean \u00a7 405.3(c) of this chapter."], ["17:17:5.0.2.1.6.0.43.3", 17, "Commodity and Securities Exchanges", "IV", "A", "405", "PART 405\u2014REPORTS AND AUDIT", "", "", "", "\u00a7 405.3 Notification provisions for certain registered government securities brokers and dealers.", "SEC", "", "", "[52 FR 27954, July 24, 1987, as amended at 59 FR 53731, Oct. 26, 1994; 59 FR 55910, Nov. 9, 1994; 60 FR 18734, Apr. 13, 1995]", "(a) Every registered government securities broker or dealer, other than a government securities interdealer broker that is subject to the financial responsibility requirements of \u00a7 402.1(e) and a government securities broker or dealer that is also a futures commission merchant registered with the CFTC, shall comply with the requirements of \u00a7 240.17a-11 of this title (SEC Rule 17a-11), with the following modifications:\n\n(1) References to \u201cbroker or dealer\u201d include registered government securities brokers and dealers.\n\n(2) References to \u00a7 240.15c3-1, relating to net capital, mean \u00a7 402.2 of this chapter.\n\n(3) References to \u201cnet capital\u201d mean \u201cliquid capital\u201d as defined in \u00a7 402.2 of this chapter.\n\n(4) References to \u00a7 240.17a-5, relating to reports and audit, mean \u00a7 405.2(a) of this chapter.\n\n(5) Section 240.17a-11(c), for the purposes of this section, is modified to read as follows:\n\n\u201c(c) Every registered government securities broker or dealer shall send notice promptly (but within 24 hours) in accordance with paragraph (g) of this section if a computation made pursuant to the requirements of \u00a7 402.2 of this title shows, at any time during the month, that its liquid capital is less than 150 percent of total haircuts, determined in accordance with \u00a7 402.2 of this title, or that its capital after deducting total haircuts from liquid capital is less than 120 percent of the registered government securities broker or dealer's minimum capital requirement specified in \u00a7 402.2 (b) or (c) of this title as applicable.\u201d\n\n(6) References to \u00a7 240.17a-3, relating to records, mean \u00a7 404.2 of this chapter.\n\n(b) A government securities interdealer broker that is subject to the financial responsibility requirements of \u00a7 402.1(e) of this chapter shall comply with the requirements of \u00a7 240.17a-11 of this title (SEC Rule 17a-11), with the following modifications:\n\n(1) References to \u201cbroker or dealer\u201d include government securities interdealer brokers;\n\n(2) References to \u00a7 240.15c3-1, relating to net capital, include the modifications contained in \u00a7 402.1(e) of this chapter.\n\n(3) References to \u201cnet capital\u201d mean net capital calculated as provided in \u00a7 402.1(e) of this chapter.\n\n(4) References to \u00a7 240.17a-5, relating to reports and audit, mean \u00a7 405.2(b) of this chapter.\n\n(5) References to \u00a7 240.17a-3, relating to records, mean \u00a7 404.2 of this chapter.\n\n(c) A registered government securities broker or dealer that is also a futures commission merchant registered with the CFTC shall comply with the requirements of \u00a7 240.17a-11 of this title (SEC Rule 17a-11), with the following modifications:\n\n(1) References to \u201cbroker or dealer\u201d include government securities brokers and dealers.\n\n(2) References to \u00a7 240.15c3-1, relating to net capital, mean either \u00a7 240.15c3-1 or \u00a7 1.17 of this title, depending on which computation results in the higher net capital requirement.\n\n(3) References to \u201cnet capital\u201d mean the higher of net capital calculated under \u00a7 240.15c3-1 or \u00a7 1.17 of this title.\n\n(4) References to \u00a7 240.17a-5, relating to reports and audit, mean \u00a7 405.2(c) of this chapter.\n\n(5) Section 240.17a-11(c) for the purposes of this section is modified to read as follows:\n\n\u201c(c) Every broker or dealer shall send notice promptly (but within 24 hours) after the occurrence of the events specified in paragraphs (c)(1), (c)(2), (c)(3), or (c)(4) of this section in accordance with paragraph (g) of this section:\u201d\n\n(6) A new paragraph 240.17a-11(c)(4) is added to read as follows:\n\n\u201c(4) If a computation made by a government securities broker or dealer that is not a registered broker or dealer but that is also a futures commission merchant registered with the Commodity Futures Trading Commission shows that:\n\n\u201c(i) The adjusted net capital of such entity is less than the greater of:\n\n\u201c(A) 150 percent of the appropriate minimum dollar amount required by \u00a7 1.17(a)(1)(i), or\n\n\u201c(B) 6 percent of the following amount: The customer funds required to be segregated pursuant to \u00a7 4d(2) of the Commodity Exchange Act and \u00a7 1.17 of this title, less the market value of commodity options purchased by option customers on or subject to the rules of a contract market, provided, however, the deduction for each option customer shall be limited to the amount of customer funds in such option customer's account; or\n\n\u201c(ii) At any point during the month, aggregate indebtedness is in excess of 1200 percent of net capital or total net capital is less than 120 percent of the minimum net capital required.\u201d\n\n(7) References to \u00a7 240.17a-3, relating to records, mean \u00a7 404.2 of this chapter."], ["17:17:5.0.2.1.6.0.43.4", 17, "Commodity and Securities Exchanges", "IV", "A", "405", "PART 405\u2014REPORTS AND AUDIT", "", "", "", "\u00a7 405.4 Financial recordkeeping and reporting of currency and foreign transactions by registered government securities brokers and dealers.", "SEC", "", "", "", "Every registered government securities broker or dealer who is subject to the requirements of the Currency and Foreign Transactions Reporting Act of 1970 shall comply with the reporting, recordkeeping and record retention requirements of 31 CFR part 103. Where 31 CFR part 103 and \u00a7 404.3 of this chapter require the same records to be preserved for different periods of time, such records or reports shall be preserved for the longer period of time."], ["17:17:5.0.2.1.6.0.43.5", 17, "Commodity and Securities Exchanges", "IV", "A", "405", "PART 405\u2014REPORTS AND AUDIT", "", "", "", "\u00a7 405.5 Risk assessment reporting requirements for registered government securities brokers and dealers.", "SEC", "", "", "[60 FR 20401, Apr. 26, 1995, as amended at 79 FR 38456, July 8, 2014]", "(a) Every registered government securities broker or dealer shall comply with the requirements of \u00a7 240.17h-2T of this title (SEC Rule 17h-2T), with the following modifications:\n\n(1) For the purposes of this section, references to \u201cbroker or dealer\u201d and \u201cbroker or dealer registered with the Commission pursuant to Section 15 of the Act\u201d mean registered government securities brokers or dealers.\n\n(2) For the purposes of this section, references to \u00a7\u00a7 240.17h-1T and 240.17h-2T of this title mean those sections as modified by \u00a7\u00a7 404.2(b) and 405.5, respectively.\n\n(3) For the purposes of this section, \u201cassociated person\u201d has the meaning set out in Section 3(a)(18) of the Act (15 U.S.C. 78c(a)(18)), except that natural persons are excluded.\n\n(4) Paragraph 240.17h-2T(b) of this title is modified to read as follows:\n\n\u201c(b)  Exemptions.  (1) The provisions of this section shall not apply to any registered government securities broker or dealer:\n\n\u201c(i) Which is exempt from the provisions of \u00a7 240.15c3-3 of this title, as made applicable by \u00a7 403.4, pursuant to paragraph (k)(2) of \u00a7 240.15c3-3 of this title; or\n\n\u201c(ii) If the registered government securities broker or dealer does not qualify for exemption from the provisions of \u00a7 240.15c3-3 of this title, as made applicable by \u00a7 403.4, and such registered government securities broker or dealer does not hold funds or securities for, or owe money or securities to, customers and does not carry the accounts of, or for, customers; unless\n\n\u201c(iii) In the case of paragraphs (b)(1) (i) or (ii) of this section, the registered government securities broker or dealer maintains capital of at least $20,000,000, including debt subordinated in accordance with appendix D of \u00a7 240.15c3-1 of this title, as modified by appendix D of \u00a7 402.2.\n\n\u201c(2) The provisions of this section shall not apply to any registered government securities broker or dealer which maintains capital of less than $250,000, including debt subordinated in accordance with appendix D of \u00a7 240.15c3-1 of this title, as modified by appendix D of \u00a7 402.2, even if the registered government securities broker or dealer holds funds or securities for, or owes money or securities to, customers or carries the accounts of, or for, customers.\n\n\u201c(3) The provisions of this section shall not apply to any registered government securities broker or dealer which has an associated person that is a registered broker or dealer, provided that:\n\n\u201c(i) The registered broker or dealer is subject to, and in compliance with, the provisions of \u00a7 240.17h-1T and \u00a7 240.17h-2T of this title, and\n\n\u201c(ii) All of the Material Associated Persons of the registered government securities broker or dealer are Material Associated Persons of the registered broker or dealer subject to \u00a7 240.17h-1T and \u00a7 240.17h-2T of this title.\n\n\u201c(4) In calculating capital for the purposes of this paragraph, a registered government securities broker or dealer shall include with its equity capital and subordinated debt the equity capital and subordinated debt of any other registered government securities brokers or dealers or registered brokers or dealers that are associated persons of such registered government securities broker or dealer, except that the equity capital and subordinated debt of registered brokers and dealers that are exempt from the provisions of \u00a7 240.15c3-3 of this title, pursuant to paragraph (k)(1) of \u00a7 240.15c3-3, shall not be included in the capital computation.\n\n\u201c(5) The Secretary may, upon written application by a Reporting Registered Government Securities Broker or Dealer, exempt from the provisions of this section, either unconditionally or on specified terms and conditions, any registered government securities brokers or dealers that are associated persons of such Reporting Registered Government Securities Broker or Dealer. The term \u201cReporting Registered Government Securities Broker or Dealer\u201d shall mean any registered government securities broker or dealer that submits such application to the Secretary on behalf of its associated registered government securities brokers or dealers.\u201d\n\n(5) Paragraph 240.17h-2T(c) of this title is modified to read as follows:\n\n\u201c(c)  Special provisions with respect to Material Associated Persons subject to the supervision of certain domestic regulators.  A registered government securities broker or dealer shall be deemed to be in compliance with the reporting requirements of paragraph (a) of this section with respect to a Material Associated Person if such registered government securities broker or dealer files Items 1, 2, and 3 (in Part I) of Form 17-H in accordance with paragraph (a) of this section, provided that:\n\n\u201c(1) Such Material Associated Person is subject to examination by or the reporting requirements of a Federal banking agency and the registered government securities broker or dealer or such Material Associated Person furnishes in accordance with paragraph (a) of this section copies of reports filed by the Material Associated Person with the Federal banking agency pursuant to section 5211 of the Revised Statutes, section 9 of the Federal Reserve Act, section 7(a) of the Federal Deposit Insurance Act, section 10(b) of the Home Owners' Loan Act, or section 5 of the Bank Holding Company Act of 1956; or * * * \u201d\n\n(6) Paragraph 240.17h-2T(d) of this title is modified to read as follows:\n\n\u201c(d)  Special provisions with respect to Material Associated Persons subject to the supervision of a foreign financial regulatory authority.  A registered government securities broker or dealer shall be deemed to be in compliance with the reporting requirements of paragraph (a) of this section with respect to a Material Associated Person if such registered government securities broker or dealer furnishes, in accordance with the provisions of paragraph (a) of this section, Items 1, 2, and 3 (in Part I) of Form 17-H and copies of the reports filed by such Material Associated Person with a Foreign Financial Regulatory Authority. The registered government securities broker or dealer shall file a copy of the original Foreign Financial Regulatory report and a copy translated into the English language. For the purposes of this section, the term Foreign Financial Regulatory Authority shall have the meaning set forth in section 3(a)(52) of the Act.\u201d"]], "truncated": false, "filtered_table_rows_count": 5, "expanded_columns": [], "expandable_columns": [], "columns": ["section_id", "title_number", "title_name", "chapter", "subchapter", "part_number", "part_name", "subpart", "subpart_name", "section_number", "section_heading", "agency", "authority", "source_citation", "amendment_citations", "full_text"], "primary_keys": ["section_id"], "units": {}, "query": {"sql": "select section_id, title_number, title_name, chapter, subchapter, part_number, part_name, subpart, subpart_name, section_number, section_heading, agency, authority, source_citation, amendment_citations, full_text from cfr_sections where \"part_number\" = :p0 and \"title_number\" = :p1 order by section_id limit 101", "params": {"p0": "405", "p1": "17"}}, "facet_results": {"title_number": {"name": "title_number", "type": "column", "hideable": false, "toggle_url": "/openregs/cfr_sections.json?part_number=405&title_number=17", "results": [{"value": 17, "label": 17, "count": 5, "toggle_url": "https://www.pawtectors.org/openregs/cfr_sections.json?part_number=405", "selected": true}], "truncated": false}, "agency": {"name": "agency", "type": "column", "hideable": false, "toggle_url": "/openregs/cfr_sections.json?part_number=405&title_number=17", "results": [{"value": "SEC", "label": "SEC", "count": 5, "toggle_url": "https://www.pawtectors.org/openregs/cfr_sections.json?part_number=405&title_number=17&agency=SEC", "selected": false}], "truncated": false}, "part_number": {"name": "part_number", "type": "column", "hideable": false, "toggle_url": "/openregs/cfr_sections.json?part_number=405&title_number=17", "results": [{"value": "405", "label": "405", "count": 5, "toggle_url": "https://www.pawtectors.org/openregs/cfr_sections.json?title_number=17", "selected": true}], "truncated": false}}, "suggested_facets": [], "next": null, "next_url": null, "private": false, "allow_execute_sql": true, "query_ms": 674.5643080212176, "source": "Federal Register API & Regulations.gov API", "source_url": "https://www.federalregister.gov/developers/api/v1", "license": "Public Domain (U.S. Government data)", "license_url": "https://www.regulations.gov/faq"}