<html> <head> <title>Rule 20:08:03:04 Net capital requirements of broker-dealers.</title> <META NAME="Keywords" Content="Administrative Rules 20:08:03:04"> <META NAME="Description" Content="Administrative Rules 20:08:03:04 Net capital requirements of broker-dealers."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:08:03:04.&nbsp;&nbsp;Net capital requirements of broker-dealers.</b> A broker-dealer registered or required to be registered under SDCL chapter <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B">47-31B</A> shall have and maintain an adjusted net capital in compliance with Rule 15c3-1 (17 C.F.R. §&nbsp;240.15c3-1) under the Securities Exchange Act of 1934.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 27 SDR 5, effective July 31, 2000; 30 SDR 211, effective July 1, 2004.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-605(a)(1)">47-31B-605(a)(1)</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-605(b)">47-31B-605(b).</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-103">47-31B-103</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-411">47-31B-411.</A></p> </div> </body> </html>