FINRA Proposes Update to Security Futures Risk Disclosure Statement

FINRA filed for immediate effectiveness a proposed rule change with the SEC to update the security futures risk disclosure statement.

Upon implementation, the rule change will (i) incorporate several relevant prior supplements pertaining to "Settlement by Physical Delivery" and "Corporate Events," (ii) reflect the industry-wide shift in the clearance and settlement cycle for securities transactions from three to two business days, (iii) amend the section on "Protections for Securities Accounts" to state the current address for the Securities Investor Protection Corporation, and (iv) make other "non-substantive and technical changes." FINRA is not proposing any textual changes to its rules at this time.

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