Reg ATS, an SEC regulation issued in the application echange de like instagram late 1990s, requires these small markets to 1) register as a broker with the nasd, 2) register as an exchange, or 3) operate as an unregulated ATS, staying under low trading caps.
91 One commenter sought clarification that a broker-dealer is not prohibited from using both documentary methods in conjunction with non-documentary methods.
42 One commenter suggested that the definitions of "U.S.
152 For example, the Anti-Money Laundering Committee of the SIA recommended in its Preliminary Guidance for Deterring Money Laundering Activity (February 2002) that broker-dealers obtain certain identifying information from customers at the commencement of the business relationship, including, for natural persons: name, address, date.As stated in the nprm, Treasury believes that the requirements of section 103.35(a) are inconsistent with the intent and purpose prostitution a bruxelles of section 326 of the Act and incompatible with the proposed rule.House Majority Leader's Office.129 See nprm, 67 FR at 48317.While 103.35(a) will no longer be needed once the final rule is fully effective, withdrawing the provision before October 1, 2003, would create a gap period during which broker-dealers would not be subject to a rule under the BSA requiring customers to be identified when.They argued that this requirement was overly burdensome.Together with the proposed rule implementing section 326 of the Act, Treasury, on its own authority, proposed deleting 31 CFR 103.35(a) for the following reasons.A broker-dealer must establish, document, and maintain a written Customer Identification Program CIP appropriate for its size and business that, at a minimum, includes each of the requirements of paragraphs (b 1) through (b 5).They suggested varying implementation periods ranging from 90 days to two years.Edit Related legislation References.Broker-dealers are required to provide accurate information to the SEC on their compliance with Rule 15c3-3 and are required to self-report certain failures to comply or material weaknesses in controls that hinder a broker-dealers efforts at compliance. .
We believe that a broker-dealer must identify customers that pose a heightened risk of not being properly identified and that a broker-dealer's CIP must prescribe additional measures that may be used to obtain information about the identity of the individuals associated with the customer when.