Mo. Code Regs. tit. 15 § 30-51.090

Current through Register Vol. 49, No. 21, November 1, 2024.

Section 15 CSR 30-51.090 - Segregation of Accounts by Broker-Dealers

PURPOSE: This rule prescribes the commingling by broker-dealers of their personal funds and securities with those of their customers and provides for the maintenance of separate records.

(1) Every broker-dealer shall at all times keep its customers' funds and securities in trust and segregated from its own funds and securities; provided, however, that compliance with Securities and Exchange Commission rules governing the use, commingling and hypothecation of customers' securities and free credit balances shall be deemed compliance with this rule.

(2) Every broker-dealer which engages in more than one (1) enterprise or activity shall maintain separate books of accounts and records relating to its securities business and its other businesses and the assets relating to its securities business shall not be commingled with those of such other businesses. Every broker-dealer shall maintain a clearly defined division among those businesses with respect to income and expenses.

15 CSR 30-51.090

AUTHORITY: sections 409.4-411(c) and (f) and 409.6-605,, RSMo Supp. 2003.* Original rule filed June 25, 1968, effective Aug. 1, 1968. Amended: Filed May 21, 1969, effective Aug. 1, 1969. Amended: Filed July 21, 1972, effective Aug. 1, 1972. Amended: Filed Nov. 15, 1974, effective Nov. 25, 1974. Emergency amendment filed Aug. 27, 2003, effective Sept. 12, 2003, expired March 9, 2004. Amended: Filed Aug. 28, 2003, effective Feb. 29, 2004.

*Original authority: 409-4-411, RSMo 2003; 409.6-605, RSMo 2003.