Regulatory Alerts2024-02-26 | Regulatory Notice 24-04Added · Updated
FINRA Adopts Amendments to Conform its Rules to the T+1 Settlement Cycle
FINRA amended 18 rules, including Rules 2341, 4515, 6282, 6380A, 6380B, 6622, 7140, 7240A, 7340, 11140, 11150, 11210, 11320, 11620, 11860, 11893, and 11894, to align with the SEC's shortening of the standard settlement cycle from T+2 to T+1. These changes adjust specific operational timeframes, such as requiring trade confirmations and account designations by the end of the trade date, moving the automatic lock-in of unmatched trades to noon ET, and shortening the window for declaring clearly erroneous transactions. The amendments become operative on May 28, 2024, or on a later date if announced by the SEC.
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