FINRA Outlines Certain Equity Trade Reporting Requirements
FINRA outlined equity trade reporting changes necessitated by the shortening of the settlement cycle from three business days to two business days ("T+2").
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FINRA is updating the Regulatory Extension (REX) system to enable firms to file extensions of time requests.
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The SEC Office of Investor Education and Advocacy published an investor bulletin outlining how the new "T+2" settlement cycle will affect certain transactions with brokerage firms.
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The SEC approved a rule amendment that alters the settlement cycle from three business days after the trade date (T+3) to two business days (T+2). The amendment is expected to improve capital efficiency and reduce risk.
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The SEC proposed an amendment that would shorten the standard settlement cycle for most broker-dealer securities transactions from three to two business days after the trade date.
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- SEA Rule 15c6-1: Settlement cycle.
- SR-FINRA-2016-047: Proposed Change to Amend FINRA Rules to Conform to the Commission’s Proposed Amendment to SEA Rule 15c6-1(a) and the Industry-led Initiative to Shorten the Standard Settlement Cycle for Most Broker-dealer Transactions from T+3 to T+2
- FINRA Notice 16-09: FINRA Requests Comment on Proposed Amendments to FINRA Rules to Support the Industry Initiative to Shorten the Settlement Cycle for Securities in the U.S. Secondary Market From T+3 to T+2
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