FINRA Regulatory Notice 13-39: SEC Approved Amendments to FINRA Rule 2360 and Rule 4210 Regarding OTC Options Cleared by OCC

FINRA issued a regulatory notice regarding the SEC-approved amendments to treat over-the-counter ("OTC") options cleared by the Options Clearing Corporation ("OCC") as conventional options for purposes of FINRA Rule 2360 ("Options") and Rule 4210("Margin Requirements").

OCC-cleared OTC options will be considered conventional for purposes of position limit and reporting requirements and delivery of certain disclosure documents, and will be considered listed options for purposes of margin requirements including maintenance margin requirements and portfolio margin requirements.

The effective date for these amendments is November 7, 2013.

See: FINRA Regulatory Notice 13-39.
See also: FINRA Regulatory Calendar.
Related news: SEC Approves FINRA Rule Changes Related to OCC Cleared OTC Options (with Lofchie Comment) (October 8, 2013); FINRA: Proposed Rule Change Relating to Amendments to FINRA Rules 2360 and 4210 in Connection with OCC Cleared Over-the-Counter Options (June 21, 2013); Options Clearing Corporation: Proposed Rule Change Relating to the Clearance and Settlement of Over-the-Counter Options (September 18, 2012).