Uniform Commercial Code (UCC): Primary legislation governing securities accounts and secured transactions, particularly Article 8 (Investment Securities) and Article 9 (Secured Transactions). These articles establish rules for securities accounts, perfection of security interests, and control arrangements.
Securities Exchange Act of 1934: Federal law establishing regulations for securities trading, broker-dealer obligations, and requirements for securities accounts and intermediaries.
Federal Reserve Regulations: Including Regulation T governing credit by broker-dealers and requirements for margin accounts and securities lending.
Investment Company Act of 1940: Legislation relevant when any party is an investment company, including regulations regarding custody of securities.
Securities Investor Protection Act (SIPA): Law establishing protection mechanisms for customer assets and SIPC insurance considerations in securities accounts.
USA PATRIOT Act: Legislation establishing Know Your Customer (KYC) requirements and anti-money laundering provisions applicable to securities accounts.
State Securities Laws: Including Blue Sky Laws and state-specific security interest requirements that may affect securities account control.
Dodd-Frank Wall Street Reform Act: Comprehensive financial reform legislation including relevant provisions regarding securities custody and control.
FDIC Regulations: Regulations applicable when the securities intermediary is a bank, governing aspects of deposit insurance and bank securities activities.
Bank Holding Company Act: Legislation relevant when the securities intermediary is owned by a bank holding company, governing permissible activities and control.
SEC Regulations: Rules and guidance from the Securities and Exchange Commission governing securities accounts and intermediaries.
FINRA Rules: Self-regulatory organization rules governing broker-dealers and securities account operations.
Bankruptcy Code: Federal bankruptcy laws affecting securities accounts and control agreements in the event of insolvency.
Federal Tax Regulations: Tax laws and regulations affecting securities accounts and reporting requirements.
State Contract Law: General principles of state contract law governing the formation and enforcement of account control agreements.
