FINRA proposed a series of amendments that would conform various FINRA rules to the SEC-proposed amendment to Exchange Act Rule 15c6-1(a). The SEC proposal would shorten the standard settlement cycle for broker-dealer transactions from three business days after the trade date ("T+3") to two ("T+2"). If the SEC adopts the Exchange Act amendments, then the effective date of FINRA's proposed amendments will correspond with the new T+2 standard settlement cycle.
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