SEC Commissioner Peirce Issues Cutting by Two Would Do
February 20, 2026
February 20, 2026
WASHINGTON, Feb. 20 -- The Securities and Exchange Commission issued the following statement on Feb. 19, 2026, by commissioner Hester M. Peirce:
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Cutting by Two Would Do
Today, the staff of the Division of Trading and Markets issued an FAQ relating to the treatment of payment stablecoins[1] under the broker-dealer net capital rule (Exchange Act Rule 15c3-1). The FAQ provides that the staff would not object if a broker-dealer were to apply a 2% haircut . . .
* * *
Cutting by Two Would Do
Today, the staff of the Division of Trading and Markets issued an FAQ relating to the treatment of payment stablecoins[1] under the broker-dealer net capital rule (Exchange Act Rule 15c3-1). The FAQ provides that the staff would not object if a broker-dealer were to apply a 2% haircut . . .