On April 24th, Robert Cook, SEC Director, Division of Trading and Markets, discussed the collapse of MF Global. SEC staff is evaluating possible rule changes to the financial responsibility requirements that could strengthen customer protection. For example, one change under consideration would be to limit, for purposes of the customer reserve fund required by Rule 15c3-3, the amount of cash a broker-dealer could maintain in any one bank, as a percentage of capital of the broker-dealer or the bank. Cook Testimony