Attleboro mutual liquidating trust woburn ma

Posted by / 29-May-2017 07:52

* * * * * Questions concerning this notice may be directed to I. Senior Vice President Compliance Attachment SECURITIES AND EXCHANGE COMMISSION 17 CFR Part 240 [Release No. S7-21-86] Customer Protection Rule The Securities and Exchange Commission ("Commission") is adopting amendments to its customer protection rule under the Securities Exchange Act ("Act") in connection with repurchase agreements where the broker-dealer agrees to retain custody of the securities that are subject to those agreements ("hold in custody repurchase agreements").

William Fishkind, Associate Director, NASD Financial Responsibility, at (202) 728-8405. The amendments to the rule will require registered broker-dealers to obtain repurchase agreements in writing, to make specific disclosures regarding certain risks associated with hold in custody repurchase transactions and to disclose that the Securities Investor Protection Corporation ("SIPC") has taken the position that coverage under the Securities Investor Protection Act of 1970 is not available to repurchase agreement participants.

*If the amount is significant, consideration should be given to disclosing such potential purchases as a risk factor.The amendments further require registered broker-dealers to maintain possession or control of securities subject to hold in custody repurchase agreements, except that possession or control during the trading day is not required if certain conditions are met.In September of 1988, the Commission proposed amendments to its financial responsibility rules relating to repurchase and reverse repurchase agreements.The amendments do not affect a member's ability to require its associated persons to qualify as Series 7—General Securities Representatives as a matter of policy.The Series 62—Corporate Securities Limited Representative Examination, either alone or in conjunction with other limited representative examinations, is intended to provide members greater flexibility in qualifying their personnel, while maintaining the necessary investor protection afforded by the NASD's qualification program.

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However, no such fee, reimbursement for costs and expenses, indemnification for any damages incurred by the Escrow Agent, or any monies whatsoever shall be paid out of or chargeable to the funds on deposit in the Escrow Account.