Select Page

(A) has a minimum term of one year, with the exception of the transitional subordination agreements provided for at point h) (3) (v) of this section, and (1) The Commission may, by order, limit, for up to twenty working days, any withdrawal of equity or advances or unsecured loans to a shareholder, partner or limited liability associate for up to twenty working days. , the individual business, worker or related partner, if: (2) In the case of an applicant or registrant included in this consolidation, the applicant`s or registrant`s equity capital (including satisfactory subordination agreements considered to be equity covered in paragraph (d) of this section) would be less than 30% of the amount of capital required in accordance with paragraph (d) of this section. (ii) the partnership agreement provides that, in accordance with a subordination agreement satisfactory within the meaning of paragraph h of this section, the share capital is in all respects, subject to the provisions limiting the withdrawal of this section in accordance with point (e) from this section, and (A) an applicant or registrant according to his or her choice, but not the lender`s choice. , if the subordination agreement provides for it, before the expected due date of this payment obligation (hereafter referred to as the “down payment”), all or part of the payment obligation that consists of this, but under no circumstances before the expiry of one year from the date of entry into force of such a subordination agreement: however, provided that an advance is made before the expiry of one year from the effective date of this subordination contract. Provided, however, that the above restrictions do not apply to temporary subordination agreements that meet the provisions of paragraph 3, paragraph 3, paragraph v) of this section, or to “special advances” made in accordance with paragraph h) (2) (vii) (vii) (b) of this section. An advance payment is not made if, after the completion of this period (and for all bond payments resulting from other subordinate agreements whose maturity or accelerated maturity must be due within six months from the date on which this pre-financing was made in accordance with this provision, or before the date on which the payment obligation is due for this pre-financing , it is due in defiance of this provision. without reference to the applicant`s or registrant`s foreseeable profit or loss, the plaintiff`s or registrant`s adjusted net capital is less than the largest: members subject to capital requirements must also be aware of the restrictions imposed when adjusted net capital falls to a restrictive level. A member cannot withdraw capital if it is below the equity repayment limit and cannot repay a subordinated loan contract if it is below the suspended repayment limit. In addition, members must still hold at least 30% equity. (ii) notification of the expiry or accelerated deadline. Each applicant or declarant immediately informs the National Futures Association and the registrant immediately informs the designated self-regulatory body and, if so, the Commission, if, after the execution of all payments made under subordination agreements, these payments are due or due within six months, without reference to a projected benefit or loss of the applicant or filer. , its adjusted net capital would be less than: (e) No equity of the applicant or the filer or the consolidated equity of a subsidiary, subsidiary or related company, in accordance with point (f) of this section, either in the form of capital deposits of partners (including amounts in the accounts of the partners` products, options and securities considered to be equity , excluding amounts on these trading accounts that are not equity) , and excluding balances on capital accounts with limited partners, in excess of their declared capital contributions, equal or declared value of the share capital, capital paid above face value or declared value, retained profits or other capital accounts , through the intervention of a shareholder or partner; Yes