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FINRA Issues Regulatory Notice Regarding Extension of Time Requests Relating to FINRA Rule 4210

On February 14, the Financial Industry Regulatory Authority (FINRA) published a Regulatory Notice stating that it is updating the Regulatory Extension (REX) system to include increased functionality that will assist FINRA member firms in requesting extensions of time related to FINRA Rule 4210. This will include requests for extensions of time in connection with the margin requirements for Covered Agency Transactions that will become effective on June 25.

Beginning on June 25, member firms may submit requests for an extension of time pursuant to FINRA Rule 4210 by (1) completing an online form through the FINRA Firm Gateway, or (2) submitting a batch file by logging into the REX system. To support member firms in preparing for the update, FINRA has created a REX Customer Test Environment that member firms may use to test extension of time requests. FINRA is dividing testing into two phases and reminds firms to begin testing as soon as possible to ensure that they are ready to file extension of time requests when the updated REX system is implemented.

A copy of the Notice is available here.

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About this Author

Janet M. Angstadt, Securities, Financial Services, Chicago, Lawyer, Katten Law FIrm
Partner

Janet M. Angstadt is the head of Katten's Chicago Financial Services practice. She focuses her practice on broker-dealer and exchange compliance issues and advises companies on matters regarding compliance with the regulations of the US Securities and Exchange Commission (SEC) and self-regulatory organizations (SROs).

Janet represents clients in a wide range of legal and regulatory matters, including mergers and acquisitions, SRO investigations, compliance issues related to registrations, sales practice, short sales, Regulation NMS, market-making and...

312.902.5494
Ayah Sultan, Katten Law Firm, Financial Services Attorney
Associate

Ayah Sultan is an associate in the Financial Services practice. 

While in law school, Ayah served as an editor of the Harvard Business Law Review, a member of the Harvard Law Entrepreneurship Project and a board member of the Women's Law Association.

212-940-6483