July 13, 2020

Corporate & Financial Weekly Digest, Featuring Articles on Additional LIBOR Replacement Materials from the ARRC, Amendments to Exemptive Application Procedures by the SEC and Updates to Aspects of MiFIR and MiFID II from ESMA

Christian Hennion, Carolyn Jackson, Nathaniel Lalone, Susan Light, Stanley Polit, Neil Robson, Jack West

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BROKER-DEALER -

FINRA Announces Updates to Interpretations of Margin Rule Regarding Control and Restricted Securities and Consolidation of Accounts -

On July 2, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 20-22 (the Notice) announcing updates to its interpretations regarding (1) FINRA Rule 4210(e)(8), which specifies margin requirements for control and restricted securities, and (2) FINRA Rule 4210(f)(5), which specifies conditions for the consolidation of two or more accounts carried for the same customer.

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.