TheCorporateCounsel.net

February 9, 2023

Settling Trades: “T+1” Coming Soon?

Yesterday, the SEC announced an open meeting to be held next Wednesday, February 15th. The Sunshine Act Notice says that the meeting will include consideration of whether to adopt rules & rule amendments under the Securities Exchange Act of 1934 to shorten the standard settlement cycle for most securities transactions.

Presumably, this relates to the Commission’s February 2022 proposal to shorten the settlement cycle to T+1 and make other “market plumbing” changes. The proposed rules and rule amendments would be applicable to broker-dealers and certain clearing agencies.

Liz Dunshee