Order Under Section 36 of the Securities Exchange Act of 1934 (the “Exchange Act”) Granting Conditional Exemptive Relief From Section 15(c)(3) of and Rule 15c3-3a, Note H Under the Exchange Act Relating to Certain…

The conditional exemptive relief granted under Section 36 of the Securities Exchange Act from Section 15(c)(3) and Rule 15c3-3a addresses critical regulatory requirements impacting broker-dealers’ custody of customer funds and securities. For middle-market credit professionals, understanding these regulatory adjustments is essential as they influence compliance frameworks, risk management, and operational structures in leveraged finance transactions. This development could affect how market participants structure deals and manage collateral, with potential implications for credit risk and liquidity considerations in the middle market.