FINRA Allows One-Day Extension for Making Reserve Deposits Around the Holidays

FINRA has announced for the benefit of firms that staff of the SEC's Division of Trading and Markets is granting an optional one-day extension (around the December 2012 month-end holidays) to firms for making the deposit of amounts required to be reserved pursuant to Exchange Act Rule 15c3-3 (Customer Protection--Reserves and Custody of Securities). These reserved amounts are based on the Customer and PAIB reserve formula computations prescribed by Rule 15c3-3(e)(3) and computed as of Friday, December 21 and Friday, December 28, 2012. The required deposit dates would be pushed back from a Wednesday to a Thursday of the respective following weeks.

See: FINRA Regulatory Notice 12-54 (links externally to FINRA website).