图书简介

1 The Securities Industry .01-.144 Broker-Dealers .04-.25 Discount Brokers .08 Investment Bankers .09-.14 Government Securities Dealers .15 Designated Market Maker .16 Clearing Brokers .17 Carrying Brokers .18 Prime Brokers .19 Swap Dealers .20-.21 Introducing Brokers .22 Brokers’ Brokers .23 Bank-Owned Brokers (Section 4k4(e) and Section 20 Brokers) .24 Independent Broker-Dealers .25 The Financial Markets .26-.48 Exchange Market .29-.34 OTC Market .35-.39 Third Market .40 Alternative Trading Venues .41-.48 Clearing Organizations and Depositories .49-.55 Transfer Agents .56-.59 Regulatory Overview .60-.63 Business Activities .64-.144 Brokerage .64-.72 Firm Trading .73-.109 Investment Banking .110-.117 Financing .118-.130 Other Activities .131-.144 2 Broker-Dealer Functions, Books, and Records .01-.176 Introduction .01-.18 Overview .01-.03 Original Entry Journals .04-.06 General Ledger .07 Stock Record .08-.12 Regulatory Recordkeeping Requirements .13-.15 Trade Date and Settlement Date .16-.18 Trade Execution .19-.60 Customer Trades .19-.48 Proprietary Trades .49-.60 Clearance and Settlement .61-.90 Overview .61-.65 Comparison .66-.70 Settlement .71-.87 Bookkeeping .88-.90 Specialized Clearance Activities .91-.118 Mortgage-Backed Securities .91-.95 Government Securities .96-.98 Repos and Reverse Repos .99-.100 Derivative Securities .101-.103 Commodity Futures and Options on Futures .104-.108 Forward Transactions .109 Municipal Securities .110-.111 International Securities .112 Options on Securities .113-.118 Reconciliation and Balancing .119-.122 Custody .123-.134 Possession or Control .124-.128 Securities Transfer .129-.134 Dividends, Interest, and Reorganization .135-.148 Dividends and Interest .135-.143 Reorganization .144-.148 Collateralized Financing .149-.163 Stock Loan and Stock Borrow .149-.153 Bank Loan Financing .154-.157 Reverse Repos and Repos .158-.163 Regulatory Considerations .164-.171 Tax Information Reporting for Certain Customer Transactions .172-.175 Illustrative Stock Record Entries .176 3 Regulatory Considerations .01-.188 Applicable Rules .05-.10 Interpretations of Rules .09-.10 Explanation of Significant SEC Financial Responsibility Rules .11-.125 SEC Rule 15c3-3, \"Customer Protection-Reserves and Custody of Securities\" .11-.40 SEC Rule 15c3-1, \"Net Capital Requirements for Brokers or Dealers\" .41-.60 SEC Rule 15c3-1(e), \"Notice Provisions Relating to the Limitations on the Withdrawal of Equity Capital\" .61-.65 SEC Rule 17a-13, \"Quarterly Security Counts to Be Made by Certain Exchange Members, Brokers, and Dealers\" .66-.70 SEC Rule 17a-3, \"Records to Be Made by Certain Exchange Members, Brokers, and Dealers\" .71 SEC Rule 17a-4, \"Records to Be Preserved by Certain Exchange Members, Brokers, and Dealers\" .72 Regulation T and Maintenance Margin .73-.79 Account Statement Rule(s) .80-.81 SEC Rules and CFTC Regulations Governing Customer Margin for Transactions in Security Futures .82 SEC Rules 17h-1T and 17h-2T .83-.86 SEC Rule 17Ad-17, \"Lost Securityholders and Unresponsive Payees\" .87-.92 SEC Rule 17Ad-22, \"Clearing Agency Standards\" .93-.94 SEC Rule 17-248-Subpart C, \"Regulation S-ID: Identity Theft Red Flags\" .95 SEC Rule 506 of Regulation D and SEC Rule 144A .96-.97 SEC Rule 15c3-5, \"Risk Management Controls for Brokers or Dealers with Market Access\" .98-.101 SEC Rule 17a-5, \"Reports to Be Made by Certain Brokers and Dealers\" .102-.122 Anti-money Laundering Regulations .123-.125 Reporting Requirements .126-.151 Consolidation of Subsidiaries .132-.134 Form Custody .135 Other Periodic Reporting .136 The Annual Audited Financial Report .137-.151 Filings Concurrent With the Annual Audited Financial Report .152-.161 Compliance or Exemption Report Required by SEC Rule 17a-5 .152-.154 Report to State Regulatory Agencies .155 Financial Statements to Be Furnished to Customers of Securities Broker-Dealers .156-.161 Other Reports .162-.171 Reports on Securities Investor Protection Corporation Assessment .162-.164 Reports on Agreed-Upon Procedures for Distributions .165 PCAOB Accounting Support Fee .166-.171 Additional Requirements for Registered Investment Advisers .172-.180 Rules Applicable to Broker-Dealers in Commodities and U.S. Government Securities .181-.183 Commodities Brokers .182 Government Securities Broker-Dealers .183 OTC Derivatives Dealers .184-.185 Swap Dealers and Swaps Marketplace Participants .186 Annual Compliance Certification .187-.188 4 Internal Control .01-.69 Introduction .01-.06 The Control Environment .07-.09 Risk Assessment .10-.18 Control Activities .19-.22 Information and Communication .23-.29 Information and Communication Control Activities .26-.29 Monitoring Activities .30-.35 Broker-Dealer Control and Monitoring Activities .36-.61 Sales and Compliance .40-.43 Clearance .44-.45 Securities Settlement .46-.47 Custody .48-.49 Dividends, Interest, and Reorganization .50-.51 To-Be-Announced Securities .52 Principal Transactions .53-.55 OTC Derivative Transactions .56 Commissions .57 Collateralized Financings .58-.60 Period End Financial Reporting .61 SEC Requirements for Management’s Report on Internal Control Over Financial Reporting for Issuers .62-.69 Annual Reporting Requirements for Issuers .66 Quarterly Reporting Requirements for Issuers .67-.69 5 Accounting Standards .01-.127 Accounting Model .02-.40 Definition of Fair Value .06-.08 Application of Fair Value Measurement to Liabilities and Instruments Classified in a Reporting Entity’s Shareholders’ Equity .09-.11 Valuation Techniques .12-.14 Inputs to Valuation Techniques .15-.16 Application to Financial Assets and Financial Liabilities With Offsetting Positions in Market Risks or Counterparty Credit Risk .17-.19 Inputs Based on Bid and Ask Prices .20 Present Value Techniques .21-.24 The Fair Value Hierarchy .25-.28 Fair Value Measurements of Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) .29-.32 Fair Value Determination When the Volume or Level of Activity Has Significantly Decreased .33-.37 Fair Value Option .38-.40 Additional Fair Value Considerations .41-.54 Financial Instruments Listed on a Recognized Exchange .41-.45 Financial Instruments Not Listed on a Recognized Exchange but Having a Readily Available Market Price .46-.48 Financial Instruments Not Having a Readily Available Market Price .49-.54 Trade-Date Versus Settlement-Date Accounting .55-.68 Proprietary and Principal Transactions .58-.65 Agency Transactions .66-.68 Statement of Financial Condition Considerations .69-.112 Due From, and Due to, Other Broker-Dealers and Clearing Entities .69-.70 Transfers of Financial Assets .71-.85 Exchange Memberships Owned or Contributed .86 Suspense Accounts .87 Derivatives .88-.97 Conditional Transactions .98 Leveraged Buyouts and Bridge Loans .99 Asset Securitizations .100-.103 Variable Interest Entities .104 Soft-Dollar Arrangements .105-.109 Mandatorily Redeemable Instruments .110-.112 Statement of Income or Loss Considerations .113-.124 Underwriting Revenues and Expenses .113-.117 Distribution Costs .118-.119 Interest, Dividends, and Rebates .120-.123 Costs Associated With Exit or Disposal Activities .124 Revenue Recognition: Application of FASB ASC 606 .125-.127 Brokers, Dealers, and Futures Commission Merchants and the Definition of a Public Business Entity .125-.127 6 Financial Statement Presentation and Classification .01-.169 Introduction .01-.12 Financial Statements .13-.31 Statement of Financial Condition .13-.15 Statements of Income, Comprehensive Income or Operations .16-.20 Statement of Cash Flows .21-.22 Statement of Changes in Ownership Equity .23-.24 Statement of Changes in Subordinated Borrowings .25 Consolidation of Subsidiaries .26-.28 Going Concern .29-.31 Supplementary Schedules .32-.39 Computation of Net Capital Pursuant to SEC Rule 15c3-1 .34 Computations for Determination of Reserve Requirements Pursuant to SEC Rule 15c3-3 .35-.36 Information Relating to Possession or Control Requirements Under SEC Rule 15c3-3 .37-.38 Schedules of Segregation Requirements and Funds in Segregation for Customers’ Trading Pursuant to the Commodity Exchange Act .39 Statement of Financial Condition Account Descriptions .40-.97 Cash and Securities Segregated Under Federal and Other Regulations .41 Memberships in Exchanges .42-.46 Securities Sold Under Agreements to Repurchase and Securities Purchased Under Agreements to Resell .47-.53 Securities Borrowed and Securities Loaned .54-.60 Securities Received as Collateral and Obligation to Return Securities Received as Collateral .61-.63 Receivables From and Payables to Broker-Dealers, Clearing Organizations, and Others .64-.72 Receivables From and Payables to Customers .73-.76 Deferred Dealer Concessions .77 Securities Owned and Securities Sold, Not Yet Purchased .78-.85 Other Borrowed Funds .86-.88 Subordinated Borrowings .89-.93 Commitments and Guarantees .94-.96 Equity .97 Statement of Income or Operations Account Descriptions .98-.126 Commission Income and Related Expense .99-.103 Interest Income and Interest Expense .104-.105 Dividend Income and Dividend Expense .106 Principal Transactions (Trading Gains and Losses) .107 Investment Banking Fees and Expenses .108-.113 Asset Management and Investment Advisory Income .114-.115 Distribution Fees .116-.117 Floor Brokerage, Exchange Fee, and Clearance Expenses .118-.120 Occupancy and Equipment Expenses .121 Employee Compensation and Benefits Expenses .122-.124 Technology and Communications Expense .125 Management and Allocated Corporate Overhead Expense .126 Disclosures .127-.165 Fair Value Disclosures .127-.130 Disclosures Related to Transfers of Financial Assets Accounted for as Sales .131-.132 Disclosures Related to Transfers of Financial Assets Accounted for as Secured Borrowings .133 Disclosures of Certain Significant Risks and Uncertainties and Contingencies .134-.144 Derivative Instruments Disclosures .145-.148 Guarantee Disclosures .149-.150 Related Party Disclosures .151-.156 Subsequent Events Disclosures .157-.159 Balance Sheet Offsetting Disclosures .160-.165 Financial Statements and Schedules .166-.169 Appendix A Information Sources B Illustrative Example of Compliance Report Required by SEC Rule 17a-5 C Illustrative Example of Exemption Report Required by SEC Rule 17a-5 D The New Leases Standard: FASB ASC 842 E Accounting for Financial Instruments F Schedule of Changes Made to the Text From the Previous Edition Glossary Index of Pronouncements and Other Technical Guidance Subject Index

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