From an economic perspective, this rule proposal is quite similar to the FRB's so as to exclude from the calculation riskless assets. While both of these measures are a response to what is becoming an economic crisis, they also reflect that leverage ratios and capital requirements that do not take account of the actual risk of assets make very little sense. While the banking regulators instituted such measures in the wake of Dodd-Frank, the coronavirus is causing them to be revisited. The…

This is a well-done and helpful outline of what firms must focus on in order to comply with the SEC's new customer protection obligations.

These rules are consistent with recent efforts to support the economy and small businesses. If the regulators are going to provide a means for retail investors to invest in small companies, supporting BDCs and closed-end investment funds seems one of the more promising paths; particularly as Regulation Best Interest and similar state suitability requirements may discourage broker-dealers from recommending individual investors buy securities issued by small issuers.

Notwithstanding…

This is good information for relatives, friends or acquaintances who would qualify, but may not be aware of the availability of this benefit.