TheCorporateCounsel.net

I am sure that, at this point, your level of anticipation is off the charts for the rollout the new T+1 settlement timeframe, which will be implemented over the Memorial Day holiday weekend across securities markets. As of this morning, we are just 40 days away from the transition to T+1, and certainly nothing focuses the mind like an impending deadline. As questions inevitably arise regarding the transition to T+1, the Securities Industry and Financial Markets Association (SIFMA) has provided comprehensive resources for market participants.

In addition to a handy countdown clock for the U.S. and Canadian transition to T+1, SIFMA has posted the T+1 Securities Settlement Industry Implementation Playbook, which “outlines a detailed approach to identifying the impacts, implementation activities, implementation timelines, dependencies, and risk impacts, that market participants should consider in order to prepare for the impending transition to a shortened settlement cycle.” On April 8, 2024, SIFMA, ICI, DTCC and Deloitte hosted a virtual briefing to discuss what financial services organizations are focusing on between now and the upcoming deadlines, a replay of which is available on SIFMA’s website. I encourage you to check out the resources that SIFMA has made available and carefully consider the implications of the T+1 transition in anticipation of the end-of-May rollout.

We have also been posting resources in our “Transfer Agents/Settlement” Practice Area on TheCorporateCounsel.net.

– Dave Lynn