Article: 11810. Buy-In Procedures and Requirements

Article - Government, Publications

11810. Buy-In Procedures and Requirements

Finra, 05 September 2017

(a) A securities contract that has not been completed by the seller according to its terms may be closed by the buyer not sooner than the third business day following the date delivery was due, in accordance with this Rule.

However, this Rule shall not apply:
(1) where the contract is subject to the “buy-in” requirements of a national securities exchange or a registered clearing agency, in which case, the requirements of the national securities exchange or registered clearing agency, as applicable, would apply;
(2) to transactions in securities exempted under Section 3(a)(12) of the Exchange Act; Continue reading “Article: 11810. Buy-In Procedures and Requirements”