The Securities and Exchange Commission today announced the launch of Material Matters With SEC Chairman Paul Atkins, a new podcast that provides stakeholders and the investing public with exclusive interviews and insights around the agency’s policy and…
Asset ManagerBroker DealerWealth Manager FINRA publishes Notices to provide firms with timely information on a variety of issues. To obtain a Notice published prior to 1995, please contact FINRA MediaSource at (240) 386-4200.
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The Securities and Exchange Commission’s Investor Advisory Committee will hold a public meeting at the SEC Headquarters in Washington D.C. on March 12 at 10 a.m. ET to discuss public company disclosure reform, fund proxy voting, and a potential…
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FINRA publishes Notices to provide firms with timely information on a variety of issues. To obtain a Notice published prior to 1995, please contact FINRA MediaSource at (240) 386-4200.
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FINRA publishes Notices to provide firms with timely information on a variety of issues. To obtain a Notice published prior to 1995, please contact FINRA MediaSource at (240) 386-4200.
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Electronic Communications
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Digital Experience Transformation (DXT)
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Derivatives
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Day Trading
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Comprehensive Automated Risk Data System (CARDS)
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Certificates of Deposit (CDs)
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Central Registration Depository (CRD)
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Cash Equivalents
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BrokerCheck
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Regulatory Notice 25-05
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Regulatory Notice 25-09
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Regulatory Notice 25-13
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Information Notice - 10/21/25
FINRA's Information Notice dated October 21, 2025, reminds member firms of NSCC's amendment to Rule 50, effective October 17, 2025, which removes the "Settle Prep Day" from the ACATS process, shortening full customer account transfers to 3-4 business days. This matters because it aligns with FINRA Rule 11870's requirements to expedite transfers, enhances operational efficiency, reduces risk, and improves client experience amid broader industry shifts like T+1 settlement.[original notice]
What Changed
- - Removal of Settle Prep Day: NSCC Rule 50 amended to eliminate the settlement preparation stage from ACATS, effective October 17, 2025, streamlining the process for all securities...
- Mutual Fund/Options Synchronization: Eliminates the extra day for processing mutual funds and options via Fund/SERV, aligning their settlement with other assets; also removes the second day of...
- Overall Timeline Reduction: Full ACATS transfers now complete in 3-4 business days (previously longer), supporting faster asset access without manual processes.
- FINRA Rule 11870 remains unchanged but continues to mandate use of ACATS (when both firms participate), prompt validation/exceptions, and coordination to expedite transfers.[original notice]
Suggested Considerations
- Operational Readiness: Coordinate between transfer and settlement operations to handle shortened cycles and next-day settling; validate/except instructions within 3 business days per FINRA Rule 11870(b).[original notice]
- Exception Handling: Promptly resolve any transfer instruction exceptions (Rule 11870(b)(2)); ensure ACATS data meets minimum requirements to avoid rejections.
- System Updates: Migrate to new ACATS interfaces/formats ahead of October 2026 decommission; test for mutual funds, options, and complex assets.
- Contact FINRA/NSCC: Direct questions to Kathryn Mahoney (FINRA) at (646) 315-8428 or email; reference NSCC Important Notice A9646 for details.[original notice]
- Monitoring: Firms should already be compliant as enhancement launched October 17, 2025; address any post-implementation issues via DTCC support.
Key Dates
- SEC approves NSCC's proposed rule change (File No. SR-NSCC-2025-011) amending Rule 50.[original notice]
- Federal Register publication of SEC approval (90 FR 43709).[original notice]
- Effective date: Removal of Settle Prep Day and Fund/SERV changes; firms must support next-day settling assets.[original notice]
- Planned modernization of ACATS client interfaces (decommission of legacy formats; migration to JSON/MQ for enhanced messaging)
Compliance Impact
Urgency: Medium - Effective over three months ago (as of January 2026), with industry-wide accommodation confirmed; no new mandates but requires ongoing operational alignment to avoid Rule 11870 violations (e.g., delays in validation or exceptions). Matters for reducing transfer failures, enhancing efficiency post-T+1, and minimizing client complaints on account mobility; non-compliance risks FINRA scrutiny on customer protection.[original notice]
AI-generated analysis. May contain errors or omissions — verify with the
original FINRA source
before acting. Full disclaimer.
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Regulatory Notice 25-16
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Regulatory Notice 26-02
Broker DealerWealth ManagerBank The Securities and Exchange Commission today announced it will hold its third and final outreach event to help firms comply with amendments to Regulation S-P. The event, which is focused on small firms, is open to in-person or virtual attendance, and is…
Asset ManagerBroker DealerWealth Manager The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation today published and delivered to Congress its 2025 staff report that serves as a comprehensive and data-rich resource on capital-raising dynamics…
Asset ManagerBroker DealerWealth Manager The Securities and Exchange Commission today announced that Cicely LaMothe, Deputy Director of the Division of Corporation Finance, has retired from the agency.“Cicely has gone above and beyond the call of duty over the past twenty-four years to serve…
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The Securities and Exchange Commission today announced that Lori J. Schock, who has served as the Director of the Office of Investor Education and Assistance (OIEA) since 2009, will retire from the agency at the end of December.“I have known Lori for…
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The Securities and Exchange Commission today announced that Cristina Martin Firvida, who has served as the Director of the Office of the Investor Advocate since January 2023, will conclude her tenure with the agency at the end of January 2026. As…
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