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FINRA Announces Updates of the Interpretations of Financial and Operational Rules

Posted on January 10, 2018 at 7:35 PM

FINRA updated its interpretations in the Interpretations of Financial and Operational Rules per the advice of SEC staff. The updated interpretations relate to amendments that the SEC adopted to Securities Exchange Act (SEA) Rule 15c6-1 about the standard settlement cycle.

These updates follow the March 2017 changes adopted by the SEC regarding SEA Rule 15c6-1 regarding the standard settlement cycle. FINRA is updating interpretations in the Interpretations of Financial and Operational Rules that relate to the amendments, as set forth below. Page references are to the hardcopy version. These interpretations are being updated with specific revisions.

The following interpretations have been revised:

• SEA Rule 15c3-1(c)(2)(iv)(E)/11 (Foreign Issued, Foreign Settled Securities — Haircut Alternative to Buy-In for Aged Items) on page 328; 00 SEA Rule 15c3-3(d)(1)/01 (Margin Section) on pages 2301-2302;

• SEA Rule 15c3-3(n)/04 (Date Extensions Due) on page 2562; and 00 SEA Rule 15c3-3(n)/13 (Reason for Extension Under Paragraph (m)) on pages 2567-2568.

Further, SEC staff continues to communicate, and issue written and oral interpretations of the financial responsibility and reporting rules. FINRA has previously updated the Interpretations of Financial and Operational Rules on its website in Regulatory Notices 08-56, 13-44, 14-06, 14-12, 14-25, 14-38 and 15-25.

Read More:

Regulatory Notice 18-03

http/www.finra.org/sites/default/files/notice_doc_file_ref/Regulatory-Notice-18-03.pdf

Release Notice

http/www.finra.org/industry/notices/18-03


Categories: Operations