I appreciate the staff’s presentation on the recommendation to finalize amendments to the Commission’s recordkeeping rules applicable to broker-dealers, security-based swap dealers, and major security-based swap participants. I am also disappointed that the Commission did not consider a more rational compliance period for smaller broker-dealers. On the other hand, approximately $5.26 trillion, or 98.6% of total assets, are held at only 145 broker-dealers above that threshold. Size of Broker-Dealer (Total Assets) Total Num. of BDs Cumulative Total Assets ($ bln) Cumulative Num.

Source: Washington Post October 12, 2022 20:51 UTC