Securities Transaction Settlement Cycle

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Securities and Exchange Commission 17 CFR Part 240 [Release No. 34-80295; File No. S7-22-16] RIN 3235-AL86 AGENCY: Securities and Exchange Commission. ACTION: Final rule. SUMMARY: The Securities and Exchange Commission (“Commission”) is adopting an amendment to the Settlement cycle Rule (Rule 15c6-1(a)) under the Securities Exchange Act of 1934 (“Exchange Act”) to shorten the standard settlement cycle for most broker-dealer transactions from three business days after the trade date (“T+3”) to two business days after the trade date (“T+2”). DATES:   Effective Date: May 30, 2017. Compliance Date: September 5, 2017. FOR FURTHER INFORMATION CONTACT: Jeffrey Mooney, Assistant Director; Elizabeth Fitzgerald, Branch Chief; Susan Petersen, Special Counsel; Andrew Shanbrom, Special Counsel; Jesse Capelle, Special Counsel, Office of Market Infrastructure, Office of Clearance and Settlement; and Justin Pica, Senior Policy Advisor, Office of Market Supervision, Division of Trading and Markets, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-7010, at 202-551-5550. SUPPLEMENTARY INFORMATION: The Commission is amending Rule 15c6-1 of the Exchange Act under the Commission's rulemaking authority set forth in Sections 15(c)(6), 17A and 23(a) of the Exchange Act ( 15 U.S.C. 78o(c)(6) , 78q-1 , and 78w(a) respectively). Table of Contents I. Introduction II. Background A. Statutory Framework B. Regulatory Framework C.…