Pledge definition expanded: re-pledge permitted for margin and settlement obligations, as specified in depository regulations. Amendment inserts an explanation to regulation 79 clarifying that pledge includes re-pledge of securities for margin and settlement obligations of the client and for other purposes as specified by the Board, thereby expanding the operational definition of pledge and vesting the Board with authority to specify additional permissible purposes.
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Provisions expressly mentioned in the judgment/order text.
Pledge definition expanded: re-pledge permitted for margin and settlement obligations, as specified in depository regulations.
Amendment inserts an explanation to regulation 79 clarifying that pledge includes re-pledge of securities for margin and settlement obligations of the client and for other purposes as specified by the Board, thereby expanding the operational definition of pledge and vesting the Board with authority to specify additional permissible purposes.
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