Regulatory Alerts2013-11-05 | 2013-26165Added · Updated
Securities Investor Protection Corporation: Proposed Rule Change to Amend Rule 400
The Securities and Exchange Commission published a proposed rule change filed by the Securities Investor Protection Corporation to amend Rule 400 regarding customer claims for standardized options. The amendment grants SIPA trustees greater flexibility to transfer options positions to other members instead of forced closeouts and expands the definition of standardized options to include over-the-counter options cleared by registered agencies. This change aims to enhance customer protection and reduce market disruption during broker-dealer liquidations.
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