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By Harley Aronoff, Partner; Rachel DiDio, Partner; Vic Peña, Partner and
Anthony Sebastiani, Supervisor
The recent failures of Silicon Valley Bank (SVB) and Signature Bank have shaken middle-market banking and capital markets in the United States and abroad. Many were questioning whether their deposits at SVB and Signature Bank would adversely impact the net capital requirements pursuant to the Securities Exchange Act of 1934 (SEA) Rule 15c3-1 (Net Capital) and Customer Protection rules requirements pursuant to SEA Rule 15c3-3 (Customer Protection).
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