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1 – 1 of 1James R. Burns, James E. Anderson, Kimberly Beattie Saunders and Charles F. Gyer
To describe the steps taken by the SEC to shorten the standard settlement cycle for most broker-dealer transactions from three business days to two business days after the trade…
Abstract
Purpose
To describe the steps taken by the SEC to shorten the standard settlement cycle for most broker-dealer transactions from three business days to two business days after the trade date.
Design/methodology/approach
Provides insight into a recent area of focus for SEC regulators and describe the SEC’s efforts to improve the efficiency of and reduce risks associated with the US national clearance and settlement system.
Findings
Industry participants must continue to work toward an migration date from T+3 to T+2 on September 5, 2017. In addition, numerous corresponding rule changes have been made or are expected across other regulatory regimes, including other federal regulators and self-regulatory organizations. Industry participants should monitor communications from these organizations closely for guidance about regulatory updates related to T+2.
Originality/value
Practical regulatory guidance regarding SEC operational requirements for the US national clearance and settlement system and the impact on related SEC regulations from experienced securities lawyers.
Details