SIFMA Urges FINRA to Reconsider Extended Settlement Margin Proposal.

SIFMA expressed concern regarding a FINRA proposal to amend the application of margin requirements under FINRA Rule 4210 to “when issued” and other extended settlement transactions.

In its comment letter, SIFMA stated that FINRA’s proposals are “so extensive” from an operational perspective for member firms and in terms of impact on customers and issuers that FINRA should consider “removing” the proposals and commencing a dialogue with members to better understand the impact of the proposal.

SIFMA urged a number of changes to the FINRA proposal, noting, among other things, that:

Cadwalader Wickersham & Taft LLP

May 18 2021

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