The SEC and CFTC requested comment on a proposal to reduce the margin requirement for an unhedged security futures position and to align the margin offset table for security futures with the reduced margin requirements.
FINRA increased margin requirements for exchange-traded notes and options in order to address the complexity of these products, as well as confirming that exchange-traded notes and options on them are not allowed for portfolio margining.
FINRA provided guidance on whether the dates that securities markets unexpectedly close for business should be considered as either a regular business day or non-business day for purposes of broker-dealer financial, operational and reporting rules.
FINRA will update its Regulatory Extension system to facilitate the process for soliciting extensions of time required under the Customer Protection Rule and extensions of credit by brokers and dealers under Regulation T.
Beginning on June 6, 2018, SIFMA will host its two-day Annual Conference at the Brown Palace Hotel in Denver, Colorado. The conference will include presentations from margin practitioners and industry specialists.
The SEC clarified that a technical amendment to the definition of "fully paid securities" under Exchange Act financial responsibility rules for broker dealers was not intended to expand the scope of securities considered as fully paid securities.
Beginning on June 21, 2017, SIFMA's Credit and Margin Section will host its two-day Annual Conference at the Mills House Grand Wyndham Resort in Charleston, South Carolina. The conference will include presentations from margin practitioners and industry specialists.
A brokerage firm agreed to pay a fine and restitution to settle FINRA sanctions that it (i) inadequately supervised customer use of leverage in their brokerage accounts, and (ii) lacked adequate supervisory systems and procedures to ensure the suitability of transactions in certain Puerto Rican securities.
The SEC requested comments on a proposal to shorten the standard settlement cycle for most securities transactions from three to two business days. The request for comments was published in the Federal Register.