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Zorluk: OrtaMargin Accounts and Borrowing Requirements

Match each margin account borrowing requirement or disclosure mandate on the left with its corresponding regulatory rule or functional description on the right.

  • Regulation T Initial Margin RequirementEstablishes a 50% deposit requirement of the purchase price for marginable equity securities as set by the Federal Reserve Board.
  • FINRA Minimum Initial Equity RuleMandates that a customer deposit at least $2,000 in equity (or 100% of the purchase price if less) when executing an initial transaction.
  • FINRA Minimum Maintenance Requirement (Long)Requires a customer to maintain investor equity equal to at least 25% of the current market value of long securities.
  • Margin Risk Disclosure StatementMust be provided to margin account customers prior to or at account opening, explaining that the broker-dealer can liquidate positions without prior notice.

Cevap

Regulation T Initial Margin Requirement matches the Federal Reserve Board's 50% deposit rule. FINRA Minimum Initial Equity Rule matches the $2,000 absolute minimum deposit requirement. FINRA Minimum Maintenance Requirement (Long) matches the 25% ongoing equity threshold. Margin Risk Disclosure Statement matches the required customer disclosure explaining account liquidation rights.
Each regulatory requirement and disclosure document directly maps to its established rule: Regulation T enforces a 50% initial deposit set by the Federal Reserve Board; FINRA Rule 4210 requires a minimum initial equity floor of $2,000; FINRA maintenance rules enforce a minimum 25% equity level for long positions; and the Margin Risk Disclosure Statement details firm liquidation rights and margin risks.

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1
Identify the regulatory authority and specific percentage requirement set by Federal Reserve Board Regulation T.
Regulation T requires an initial deposit of 50% of the purchase price for marginable securities.
Reg T sets Federal Reserve policy for credit extensions in securities accounts.
2
Distinguish between Federal Reserve initial requirements and FINRA SRO rules for minimum equity.
FINRA mandates a $2,000 minimum equity deposit for initial transactions (or 100% of trade value if smaller).
FINRA Rule 4210 adds a minimum floor to protect broker-dealers from low-dollar credit exposure.
3
Differentiate between initial margin rules and ongoing minimum maintenance rules.
FINRA minimum maintenance requires keeping at least 25% equity in long margin accounts.
Maintenance requirements ensure ongoing solvency as market prices fluctuate.
4
Determine the legal purpose of the Margin Risk Disclosure Statement.
The disclosure document informs customers that firms can liquidate assets without notice to satisfy margin calls.
FINRA rules require delivering risk disclosures before or at the time of margin account opening.

Anahtar Kavram

Margin account requirements under Regulation T and FINRA Rule 4210, including initial deposits, ongoing maintenance standards, and risk disclosure obligations.
Tahmini Süre:1m 15s
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Margin Accounts and Borrowing Requirements