Government Securities Act (GSA) Regulations

This page focuses on the Government Securities Act of 1986 and amendments, which authorize the regulation of government securities brokers and dealers, and Treasury's large position reporting rules.

15 U.S.C. 78o-5, the Government Securities Act of 1986, established, for the first time, a federal scheme regulating government securities brokers and dealers — entities that were previously unregulated at the federal level.

17 CFR Parts 400–405 implement government securities broker and dealer requirements covering financial responsibility, protecting customer securities and funds, recordkeeping, and custodial holdings of government securities by depository institutions.

Government securities brokers and dealers must complete various registration and reporting forms (G-FIN, G-FINW, and others), including reports on finances and streamlined processes for certain central counterparty exemptions.