FINRA Updates the Interpretations of Financial & Operational Rules

In Regulatory Notice 15-25, FINRA released updates to interpretations in the Interpretations of Financial and Operational Rules that have been communicated to FINRA by the staff of the SEC’s Division of Trading and Markets (SEC staff). The updated interpretations relate to the effectiveness of amendments that the SEC adopted to Securities Exchange Act (SEA) Rules 15c3-1 and 15c3-3.1.

In addition to the updated interpretations, new interpretations issued address Non-Conforming Subordination Agreements for PAIB Account Exclusion, Piggyback Carrying Arrangements, Extensions of Time, Cash Deposits in Reserve Bank Accounts and Possession or Control Requirement vs Non-Customer Short.

To view the  full set updated Interpretations of the Financial and Operational Rules, click here.