Series 53: Retransmittal Notice

Retransmittal Notice

If the entity receiving a notice of close-out from a purchaser has failed to deliver because some third party owes it the securities, it has one business day to retransmit the notice in writing to that other party, while first providing notice by telephone that it is doing so. The written retransmittal notice must contain all the relevant information from the close-out notice, plus:

• • Name and address of the broker-dealer to whom the notice is being retransmitted
• • Date of the notice of retransmittal and the name of the person who received it
• • Name and telephone number of the person to contact concerning the retransmittal

With the first retransmittal, the retransmitting party is permitted to extend the close-out date by five business days, and it must specify the extended dates on its no