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unsecured notes and accounts; and deficits in customers' accounts, except in bona fide cash accounts within the meaning of Section 4 (c) of Regulation T of the Board of Governors of the Federal Reserve System;
(C) deducting 10% of the market value of securities long and short (except exempted securities) in the capital, proprietary and other accounts of the broker or dealer and, if such broker or dealer is a partnership, in accounts of partners;
(D) deducting, in the case of a broker or dealer who has open contractual commitments, 10% of the value (which shall be the market value whenever there is a market) of each net long and each net short position contemplated by any existing contractual commitment in the capital, proprietary and other accounts of the broker or dealer and, if such broker or dealer is a partnership, in accounts of partners, except as to exempted securities, and except that the deduction with respect to any individual commitment shall be reduced by the unrealized profit (or increased by the unrealized loss) in such commitment; and
(E) deducting, in the case of a broker or leader who is a sole proprietor, the excess of (i) liabilities which have not been incurred in the course of business as a broker or dealer over (ii) assets not used in the business, but only
if such excess would materially affect net worth; (3) the term "exempted securities” shall mean those securities specifically defined as exempted securities in Section 3 (a) of the Securities Exchange Act of 1934;
(4) the term “partner," where the broker or dealer is a partnership, shall mean only a partner who has agreed in writing that the equity in any accounts he may maintain with such partnership shall be included as partnership property;
(5) the term “contractual commitments” shall include underwriting, when-issued and delayed delivery contracts, endorsements of puts and calls, commitments in foreign currencies, and spot (cash) cominodities contracts, but shall not include uncleared regular way purchases and sales of securities and contracts in commodities futures; a series of contracts of purchase or sale of the same security conditioned, if at all, only upon issuance may be treated as an individual commitments; and
(6) the term “customer” shall include every person except a partner as here defined.
REGULATION X-15D. REPORTS OF REGISTRANTS UNDER
THE SECURITIES ACT OF 1933
ARTICLE 1. ANNUAL REPORTS Rule X-15D-1. Requirements of Annual Reports.
Every registrant under the Securities Act of 1933 which is currently required to file supplementary and periodic information, documents and reports pursuant to Section 15 (d) of the Securities Exchange Act of 1934 shall file an annual report for each fiscal year after the last full fiscal year for which certified financial statements were contained in its registration statement at the time such statement became effective. The report shall be filed within 120 days after the close of the fiscal year or within such other periods as may be specified in the appropriate annual report form. Rule X-15D-2. Special Financial Report.
(a) If the registration statement of any issuer subject to Rule X-15D-1 contained uncertified financial statements for the most recent full fiscal year for which financial statements were included therein, the registrant shall, within 120 days after the effective date of the registration statement, file a special report furnishing certified financial statements for such most recent fiscal year meeting the requirements of the form appropriate for annual reports of the registrant.
(6) The report shall be filed under cover of the facing sheet of the form appropriate for annual reports of the registrant, shall indicate on the facing sheet that it contains only financial statements for the fiscal year in question, and shall be signed in accordance with the requirements of the annual report form. Rule X-15D-3. Reports in Case of New Registration.
(a) Notwihtstanding the provisions of Rule X-15D-1, any registrant which has filed a registration statement under the Securities Act of 1933, within the period prescribed for filing an annual report pursuant to Rule X-15D-1, may incorporate the registration statement by reference in its annual report in lieu of furnishing the information and documents otherwise called for by the appropriate annual report form, if the registration statement
(1) has become effective and is not subject to any proceeding under Section 8 (d) of the Securities Act of 1933, or to an order entered thereunder; and
(2) covers the fiscal period that would be covered by on the appropriate annual report form and contains information, including financial statements and ex quired by the appropriate annual report form.
(6) Any registrant which would be entitled to file an annual report in accordance with this rule except for the fact that the registration statement does not contain financial statements meeting he require ments of the appropriate annual report form, may nevertheless avail itself of the provisions of this rule if financial statements meeting the requirements of the appropriate annual report form are otherwise filed as a part of the report. Rule X-15D-4. Incorporation of Information Contained in a
Prospectus. Any registrant which has filed with the Commission pursuant to Rule 424 under the Securities Act of 1933 copies of a prospectus meeting the requirements of section 10 of that Act after the effective date of the registration statement may incorporate in its annual report pursuant to Rule X-15D-1 any information, including financial statements, contained in the prospectus, provided a copy of the prospectus is filed as an exhibit to the annual report.
ARTICLE 2. OTHER REPORTS
Rule X-15D-10. Interim Reports.
(a) Every issuer which changes its fiscal closing date after the last fiscal year for which certified financial statements were filed in its registration statement shall file a report covering the resulting interim period not more than 120 days after the close of the interim period or after the date of the determination to change the fiscal closing date, whichever is later.
(6) A report pursuant to this rule shall be filed on the form appropriate for annual reports of the issuer and shall clearly indicate the period covered. If the report covers an interim period of less than 6 months, the financial statements filed therewith need not be certified but, if they are not certified, the issuer shall file with its next annual report certified financial statements covering the interim period.
(c) Notwithstanding the foregoing, a separate report need not be filed for any period of less than 3 months if the annual report of the issuer for either its preceeding or succeeding fiscal year covers the interim period as well as the fiscal year. In such case balance sheets need be furnished only as of the close of the entire period but all other financial statements, including balance sheets schedules, shall be filed separately for both the fiscal year and the interim period. Rule X-15D-11. Current Reports on Form 8-K.
(a) Except as provided in paragraph (b), every registrant subject to Rule X-15D-1 shall file a current report on Form 8-K within ten
days after the close of any month during which any of the events specified in that form occurs, unless substantially the same information as that required by Form 8-K has been previously reported by the registrant.
(6) This rule shall not apply to foreign governments or political subdivisions thereof; foreign private issuers other than Canadian, Cuban, Mexican or Philippine issuers; issuers of American certificates against foreign issues; or to investment companies required to file quarterly reports pursuant to Rule X-15D-12. Rule X-15D-12. Quarterly Reports of Investment Companies.
Every investment company registered under the Investment Company Act of 1940 which is subject to Rule X-15D-1 and for which a quarterly form is prescribed shall file a quarterly report, on the appropriate form prescribed therefor, for each fiscal quarter for which it is required to file a quarterly report pursuant to section 30 (b) (1) of the Investment Company Act of 1940. Rule X-15D-14. Reports by Canadian Banks.
(a) Any bank existing under the laws of the Dominion of Canada and subject to the Bank Act of Canada may file as its annual report pursuant to Rule X-15D-1 the information and documents which such bank is required by section 53 of such Act or any section superseding such section, to furnish to its stockholders. Such information and documents, if not in the English language, shall be accompanied by an English translation, shall be filed under cover of the facing sheet of Form 10-K, and shall be accompanied by the signatures required by that form. Such annual report shall be filed with the Commission not later than the expiration of the period specified in the Act within which such information and documents are required to be sent to stockholders.
(6) Any such bank filing annual reports pursuant to this rule need not file current reports pursuant to Rule X-15D-11 or quarterly reports pursuant to Rule X-15D-13.
REGISTRATION OF NATIONAL AND AFFILIATED
Rule X-15AA-1. Registration of a National or an Affiliated
Securities Association. Any application for registration of an association as a national, or as an affiliated, securities association shall be made in triplicate on form X-15AA-1 accompanied by three copies of the exhibits prescribed by the Commission to be filed in connection therewith.
Rule X-15AJ-1. Amendments and Supplements to Registration
Statements of Securities Associations. Every association applying for registration or registered as a national securities association or as an affiliated securities association shall keep its registration statement up to date in the manner prescribed below:
(a) Amendments.—Promptly after the discovery of any inaccuracy in the registration statement or in any amendment or supplement thereto the association shall file with the Commission an amendment correcting such inaccuracy.
(6) Current supplements.—Promptly after any change which renders no longer accurate any information contained or incorporated in the registration statement or in any amendment or supplement thereto the association shall file with the Commission a current supplement setting forth such change, except that,
(1) Supplements setting forth changes in the information called for in exhibit C need not be filed until 10 days after the calendar month in which the changes occur, and
(2) No current supplements need be filed with respect to changes in the information called for in exhibit B.
(3) If changes in the information called for in items (1) and (2) of exhibit C are reported in any record which is published at least once a month by the association and promptly filed in triplicate with the Commission, no current supplement need be
filed with respect thereto. (c) Annual supplements.—(1) Promptly after March 1 of each year, the association shall file with the Commission an annual consolidated supplement as of such date on Form X-15AJ-2.
(2) Promptly after the close of each fiscal year of the association, it shall file with the Commission a supplement setting forth its balance sheet as of the close of such year and its in
come and expense statement for such year. (d) Each amendment or supplement shall be filed in triplicate, at least one of which must be signed and attested, in the same manner as required in the case of the original registration statement, and must conform to the requirements of Rule X-2 and Form X-15AJ-1, except that the annual consolidated supplement shall be filed on Form X-15AJ-2. All amendments and supplements shall be dated and numbered in order of filing. One amendment or supplement may include any number of changes. In addition to the formal filing of amendments and supplements above described, each association shall send to the Commission three copies of any notices, reports, circulars, loose-leaf insertions, riders, new additions, lists, or other records of changes covered by amendments or supplements when, as, and if such records are made available to members of the association.