Accounting Standards Related to Net Capital and Reserve Requirements
Published on:
December 16, 1997
The Capital Committee of the Securities Industry Association (SIA)* provides comments to the New York Stock Exchange, Inc. (NYSE) and the Securities and Exchange Commission on the application of Statement of Financial Accounting Standards (SFAS) No. 125 in the preparation of the Financial and Operational Combined Uniform Single (FOCUS) Report and the computation of net capital and reserve requirements under SEC Rule 15c33. SIA notes an important aspect of the standard is to revise the terms under which certain assets and liabilities are classified for purposes of presenting a statement of financial condition.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.