Regulatory Alerts2023-09-05 | Regulatory Notice 23-15Added · Updated
Regulation T and SEA Rule 15c3-3 Extension of Time Requests Under a T+1 Settlement Cycle
FINRA updates the Regulatory Extension (REX) system to enable broker-dealers to file extension of time requests under the shortened T+1 settlement cycle, which becomes effective on May 28, 2024. Firms must file Regulation T extension requests using a T+3 payment period beginning May 31, 2024, while requests for trade dates prior to May 28, 2024, continue to use the T+4 payment period. The REX Customer Test Environment supports testing for batch and online filings from September 25, 2023, through April 5, 2024, to ensure accurate submission of requests after the transition.
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