FINRA notified broker-dealers of the due dates on filing requests for extensions of time to satisfy margin deficiencies prior to and after the 2023 holidays (when the exchanges or banks are closed).
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Public statements in response to a petition to review a recently approved FINRA rule change are due by May 10, 2022.
In testimony before the House Financial Services Committee and the Senate Banking Committee, CFPB Director Rohit Chopra prioritized (i) stimulating competition in the consumer financial markets, (ii) action against repeat offenders of agency and court orders, and (iii) restoring relationship banking to protect consumers "in an era of big data."
SIFMA expressed concern regarding a FINRA proposal to amend the application of margin requirements to "when issued" and other extended settlement transactions.
FINRA clarified its interpretations for margin rules on counting day trades and pattern day trading.