SEC Approves Delay to TBA Margin Requirements
The SEC approved a FINRA proposal to delay the effective date of amendments to FINRA Rule 4210 (Margin) from December 15, 2017 to June 25, 2018 (see previous coverage).
The rule change was filed for immediate effectiveness, and the SEC waived the otherwise applicable 30-day operative delay requirement. The amendments establish margin requirements for various types of forward-settling agency transactions, including TBAs, specified pool and collateralized mortgage obligation transactions.
Comments on the SEC approval must be received within 21 days of publication in the Federal Register.
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FINRA filed a proposed rule change that would delay the effective date of amendments to FINRA Rule 4210 (margin) from December 15, 2017 to June 25, 2018.
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FINRA published new guidance on various issues stemming from amendments made to FINRA rules on margin requirements for "Covered Agency Transactions."
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The SEC requested comments on Amendment No. 3 and approved the proposed FINRA rule change, as modified by Amendment Nos. 1, 2 and 3, to adopt margin requirements for "to-be-announced" transactions and other forward-settling agency securities transactions on an accelerated basis. The request for comments was published in the Federal Register.
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The SEC approved FINRA's proposal to adopt margin requirements for "to-be-announced" transactions and other forward-settling agency securities transactions.
