FINRA Will Conform Rules to SEC's T+1 Settlement Requirement

FINRA's Board of Governors approved a rule change to conform FINRA Rules to the SEC's T+1 settlement requirement (see related coverage). A FINRA rule filing on the matter is forthcoming.

At their meeting, the Board also discussed:

• FINRA's Digital Experience Transformation, a "multi-year program that integrated and simplified brokerage firms’ digital interactions with FINRA, facilitating more innovative, efficient and effective compliance programs";
• FINRA's Regulatory Operations and Membership Application Program; and
• approval of allocation of 2022 fine monies to various capital initiatives in accordance with FINRA's Financial Guiding Principles (with further details to be released in the forthcoming "Report on the Use of 2022 Fine Monies").