It was found the firm violated Exchange Act 15(c) and Exchange Act Rule 15c3-3(b)(l) when it returned shares to customers and thereby created or increased segregation deficits
The amendments aim to enhance the rule framework regarding retail fully paid securities lending, as well as to address inconsistencies in the existing financing rules
Daniel Hoover, former director of securities lending at BMO Global Asset Management, has entered a fully paid lending sales position at Janney Montgomery Scott LLC
Industry
Industry
Regulation
People moves
Technology