SEC no-action letter relating to prime brokerage: Difference between revisions
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====9. Record of DKs==== | ====9. Record of DKs==== | ||
The PB must keep a record of all DKs over the past three years, with reasons. Where a PB DKs a trade that remains the EB’s trade. | The PB must keep a record of all DKs over the past three years, with reasons. Where a PB DKs a trade that remains the EB’s trade. | ||
===10. Short sale regulations==== | ====10. Short sale regulations==== | ||
The EB must comply with all the applicable short sale provisions and, before executing any [[short sale]] must determine that the securities can be borrowed to deliver against the [[short sale]]. | The EB must comply with all the applicable short sale provisions and, before executing any [[short sale]] must determine that the securities can be borrowed to deliver against the [[short sale]]. | ||
====11. 10b-10 confirmations==== | ====11. 10b-10 confirmations==== | ||