1 unchanged sentence
Financial Instruments Held For Trading Purposes
−Removed: We do not directly engage in derivative transactions, have no interest in any special purpose entity and have no liabilities, contingent or otherwise, for the debt of another
+Added: We do not directly engage in derivative transactions, have no interest in any special purpose entity and have no liabilities, contingent or otherwise, for the debt of another entity.
Financial Instruments Held For Purposes Other Than Trading
We generally invest our cash and cash equivalents temporarily in dollar denominated bank account(s).
−Removed: These investments are not subject to material changes in value due to
−Removed: interest rate movements.
−Removed: Customer transactions are cleared through clearing brokers on a fully disclosed basis and self-cleared by MSCO.
−Removed: If customers do not fulfill their contractual obligations, any
−Removed: loss incurred in connection with the purchase or sale of securities at prevailing market prices to satisfy customer obligations may be incurred by Siebert.
−Removed: We regularly monitor the activity in customer accounts for compliance with margin
−Removed: requirements.
+Added: These investments are not subject to material changes in value due to interest rate movements.
+Added: Customer transactions are cleared through clearing brokers on a fully disclosed basis and are also self-cleared by MSCO.
+Added: If customers do not fulfill their contractual obligations, any loss incurred in connection with the purchase or sale of securities at prevailing market prices to satisfy customer obligations may be incurred by Siebert.
+Added: We regularly monitor the activity in customer accounts for compliance with margin requirements.
We are exposed to the risk of loss on unsettled customer transactions if customers and other counterparties are unable to fulfill their contractual obligations.
−Removed: There were no material losses for unsettled customer transactions in the
−Removed: last five years.
−Removed: Siebert 2020 Form-10K 32
+Added: There were no material losses for unsettled customer transactions in the last five years.
+Added: Siebert 2021 Form-10K 36
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.