The other 14 brokers and dealers whose audits were selected did not maintain a Special Reserve BankAccount and reported compliance with the exemptive provisions of Rule 15c3-3.
These cards require you to deposit an amount of money usually equal to the credit limit into a special savings account that the bank can collect any missed payments from.
If you own or have signature power over an offshore bankaccount, you are required to file a special, annual, non-IRS Treasury form by June 30, giving details of the account.
Sam convinced me that he could deliver an 18 percent return by placing my money in the Special Situations Fund more than twice what my IRA was earning in a bankaccount.