Regulatory Alerts2023-03-06 | 2023-03566Added
Shortening the Securities Transaction Settlement Cycle
The Securities and Exchange Commission adopted final rules to shorten the standard settlement cycle for most broker-dealer transactions from two business days to one business day after the trade date. The Commission also implemented new requirements for broker-dealers to complete trade allocations, confirmations, and affirmations by the end of trade date and mandated that clearing agencies facilitate straight-through processing. Additionally, the rules amended recordkeeping obligations for registered investment advisers and required central matching service providers to file annual reports via EDGAR.
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