The changes previously mentioned in this exam alert have been pushed back from July 1, 2011, to October 3, 2011. In addition, a provision regarding Continue reading
The changes previously mentioned in this exam alert have been pushed back from July 1, 2011, to October 3, 2011. In addition, a provision regarding the day-trading of non-margin eligible equity securities has been modified. Instead of requiring that firms cancel certain customer trades, firms will need to restrict the day-trading activity of customers who fail to meet a day-trade call.
Source: FINRA Regulatory Notice 11-30
FINRA has clarified what the customer maintenance margin requirements are for equity securities that are not considered margin securities under Continue reading
FINRA has clarified what the customer maintenance margin requirements are for equity securities that are not considered margin securities under Regulation T. The FINRA notice also clarifies that the maintenance loan value of non-margin eligible equity securities may only be applied to a maintenance margin deficiency, and cannot be used for additional transactions or withdrawals. Firms have until July 1, 2011, to comply with these requirements. Relevant to the Series 7, Series 62 and Series 24 exams.
http://www.finra.org/Industry/Regulation/Notices/2011/P123451
