Series 27: Exemption For Clearinghouse Liens

Taken from our Series 27 Online Guide

Exemption for Clearinghouse Liens

Commingling with the securities of persons other than customers is permitted for the clearing corporation of a national securities exchange or securities association on loans made and to be repaid on the same calendar day if it is incidental to the clearing of its transactions. A hypothecation or pledge may also exceed aggregate indebtedness for same-day clearinghouse liens.

SEC Rules 8c-1(

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