FINRA Amends Multiple Rules to Conform to T+1 Settlement

FINRA adopted amendments to its rules that pertain to or reference the standard securities settlement period in order to account for the planned move to the T+1 settlement cycle.

In its Notice, FINRA stated that the amendments will become operative on May 28, 2024, which is the compliance date the SEC announced for amended SEA Rule 15c6-1 ("Settlement cycle") and SEA Rule 15c6-2 ("Same-day allocation, confirmation, and affirmation"). The amendments impact a wide array of FINRA rules related to transaction reporting, trade processing and other operational aspects of securities trading.

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