FINRA Revises Treatment of Non-Margin Eligible Equity Securities

FINRA RN 11-30

June 27, 2011

FINRA announced that it is delaying the effective date, to October 3, 2011, for the treatment of non-margin eligible equity securities announced in FINRA Regulatory Notice 11-16. In addition, FINRA revised a provision requiring firms to cancel certain day-trade transactions. Instead, firms will be required to restrict the amount of margin extended to such customers who fail to meet day-trade calls on non-margin eligible equity securities.

Cross References

FINRA RN 11-16

FINRA Rule 4210

Regulation T