In an Investor Insight article, titled: "Understanding Settlement Cycles: What Does T+1 Mean for You?" FINRA advised retail customers who do not currently keep their cash and securities with their broker-dealer, to deliver assets required for settlement by the day following trade date.
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SEC Chair Gary Gensler touted the benefits of T+1 settlement, stating that the shorter settlement period will reduce market risk, protect the clearinghouses that stand between buyers and sellers, reduce the amount of margin that clearinghouses must collect, and improve market liquidity.
In a new Bulletin, which replaced and rescinded previous guidance, the Office of the Comptroller of the Currency advised regulated banks to prepare for the reduction in the settlement cycle for regular way trades.
The SEC fined a broker-dealer and its former executive for disclosing confidential information in advance of block sales of securities.
The SEC approved the listing and trading of spot bitcoin exchange-traded product shares "on an accelerated basis."