STEPHEN H. GLAD
Consultant to the Securities Industry and Financial Institutions
THE UNIFORM NET CAPITAL RULE (SEC RULE 15c3-1)**
      A full day* course covering ...
      • history and purpose of the net capital rule;
      • minimum capital requirements;
      • aggregate indebtedness and alternate methods;
      • how net capital is calculated;
      • adjustments to net worth;
      • differences from GAAP;
      • assets not readily convertible into cash;
      • haircuts on securities positions;
      • other deductions;
      • aggregate indebtedness and subordinated liabilities;
      • the alternative method of calculating net capital.

The uniform net capital rule is explained with the extensive use of examples and illustrations. Participants will prepare an actual net capital computation based on a hypothetical broker-dealer.

Participants should have a basic understanding of accounting for securities transactions by a broker-dealer.
POSSESSION OR CONTROL AND THE CUSTOMER RESERVE FORMULA
(SEC RULE 15c3-3)**
      A full day* course which includes ...
      • history and purpose of the rule;
      • explanation of possession or control;
      • definition of fully paid securities and excess margin securities;
      • segregation instructions, "excess" and "deficit" segregation;
      • requirements to take action for deficits;
      • the concept of the reserve formula;
      • formula debit items and credit items;
      • requirements to maintain a special reserve bank account.

Participants are introduced to events leading to the adoption of Rule 15c3-3. The concept of possession or control and the customer reserve formula is explained by using examples, illustrations, and problems.

Participants should have a basic understanding of accounting for securities transactions by a broker-dealer.

*These courses can be reduced to one-half day or extended beyond a full day depending on depth of coverage desired. All training programs and seminars can be customized to meet the specific goals of your organization.

Other programs are available or can be designed to meet the specific requirements of your organization and employees.
To learn more about these or other training prgrams
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Contents last revised on 11/28/08
(c) Stephen H. Glad 2008