FINRA T+2 rules approved

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FINRA T+2 rules approved

Tuesday, June 06, 2017  11.31AM / by Morrison & Foerster LLP

In May 2017, in Regulatory Notice 17-19, FINRA announced the SEC approval of a variety of its proposed rule amendments relating to the upcoming move of the U.S. securities markets to the T+2 settlement cycle.


In order to coincide with the effective date for the revisions to SEC Rule 15c6-1(a), these amendments will become effective on September 5, 2017, and relate to the following FINRA rules:

  • Rule 2341 (Investment Company Securities);
  • Rule 11140 (Transactions in Securities ''Ex-Dividend,'' ''Ex-Rights,'' or ''Ex-Warrants'');
  • Rule 11150 (Transactions ''Ex-Interest'' in Bonds Which Are Dealt in ''Flat'');
  • Rule 11210 (Sent by Each Party);
  • Rule 11320 (Dates of Delivery) (this provision includes the definition of "Regular Way," and refers to the new two business day delivery cycle);
  • Rule 11620 (Computation of Interest);
  • Rule 11810 (Buy-In Procedures and Requirements); and
  • Rule 11860 (COD Orders). 

We previously discussed these amendments in December 2016, at the time of their proposal.


FINRA has also issued an investor alert, entitled "T+2 is Coming," to help explain to investors the impact of the upcoming market-wide changes.


For further information on this topic please contact Lloyd S Harmetz at Morrison & Foerster LLP by email ( ).  

This update has been reproduced in its original format from Lexology – 

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Tags: Regulatory Notice ,  FINRA ,  proposed rule ,  U.S. securities markets, 

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