Important FINRA Update
Notice: Regular Way Settlement to Change
Here is what will change:
• Ex Dates for Cash Dividends is reduced to 1 business day from 2.
• Computation of Accrued Interest on Bonds will be changed to coincide with the reduction in days to settlement – it will be one day less.
• Exercise Settlement of Listed Stock Options will be reduced from three business days to 2 business days.
• Collection of Funds Under Regulation T will reduce the collection date from 5 days to 4 days. The funds must be collected no later than “S+2” days.
• Regulation SHO Mandatory Buy in Rules (Principal Exams Only) stipulate that mandatory buy-in will occur the morning of T+3 when a security is sold short and not delivered. This is down from T+4. If a security is sold long and is not delivered, the mandatory buy-in will occur the morning of T+5. This is down from T+6.
FINRA usually delays testing on this new material for 90 days after the rule change. You may, however, see these questions in the 5-10 “test” questions that do not count toward your score.
Unlimited Quizzes & Practice Exams
Test your knowledge to concentrate your study time and know when you’re ready to rock the real thing.
Virtual Review Classes
Learn the information and skills you need online and on your own time.
Our expert instructors are always available to guide you towards the answers to your toughest questions.