Series 99: 2.3.2.1 Customer Protection Rule

Taken from our Series 99 Top-off Online Guide

2.3.2.1 Customer Protection Rule

Between 1968 and 1970, more than a dozen broker-dealers went bankrupt, resulting in customer losses in excess of $100 million. The SEC responded with Rule 15c3-3, known as the customer protection rule. Prior to that time, broker-dealers had been in the habit of pledging customer securities as collateral for bank loans, and customer credit balances had been used to finance the b

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For the Series 99 I bought and studied the STC and the Kaplan study manuals and test banks but I pattern matching questions versus fundamentally understanding the content. I stumbled upon the Solomon test bank during a Google search and I am glad that I did. The Solomon test bank went into a lot more detail in the answers which allowed me to better understand the actual content versus just pattern recognition in the questions. Some have said that the Solomon test bank is harder than the test which I think may be true but learning the content at this level of detail is how I was able to feel confident walking in and walking out with a pass on the first attempt.

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