Series 63: 2.1.2.4. Net Capital Requirements

2.1.2.4. Net Capital Requirements

As with investment advisers, broker-dealers are required by states to meet net capital requirements both prior to registration and at all times while their registration remains active. Unlike the simpler investment adviser’s requirements, however, the broker-dealer capital requirements use complex formulas that go beyond the scope of the Series 63 exam. It’s sufficient to know that broker-dealers are subject to substantial net capital requirements.

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