Regulatory Alerts2024-12-31 | Regulatory Notice 24-18Added · Updated
FINRA Regulatory Notice 24-18: Unexpected Close of Securities Markets
FINRA issues Regulatory Notice 24-18 to update guidance for members regarding the treatment of an unexpected securities market closure under specific financial and reporting rules. The notice specifies that the closure day counts as a regular business day for net capital charges, reserve formula computations, and margin call aging, but may be treated as a non-business day for certain FOCUS report due dates and Regulation SHO fail-to-deliver close-outs. It also clarifies that margin extensions and day trading deposit restrictions are calculated by counting the closure day as a business day, effectively replacing the previous guidance in Regulatory Notice 18-39.
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