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Margining & Liquidation at US Broker-Dealers
May 15, 2023

ROUNDTABLE NEWS - Many thanks to members Andrew Auslander and Paul Carroll for their webcast on "Margining and Liquidations at U.S. Broker Dealers." The broadcast covered margining requirements including the house requirement, Regulation T and portfolio margining; the risk management view of portfolio margin; the origin and implications of the margin agreement; and liquidation of accounts. Andrew is a financial consultant and expert witness who has more than a decade of experience in secured financing including repo trading and securities lending. He has provided expert consulting in risk management, derivatives and suitability cases and has provided expert advice on margin and liquidation of brokerage accounts. Paul has over 35 years of experience in the Financial Services Industry, primarily in financial services operational control processes and supervisory best practices inclusive of trade capture, settlement, custody and margin lending. Paul served as Vice President in Global Operations for Goldman Sachs & Co., Limited Partner at Spear Leeds & Kellogg, Past-President of SIFMA’s Credit and Margin Society and former member of the SEC/FINRA Portfolio Margin Sub-Committee. The Webcast Committee is proud to broadcast these events to SER members. Members can find the recording of this broadcast in our Library. 


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