The Financial Industry Regulatory Authority has issued a Regulatory Notice to remind members that are subject to FINRA Rule 4521(d) to file certain customer margin account information beginning March 1. Under new FINRA Rule 4521(d), members carrying margin accounts for customers must file a report electronically using FINRA’s new Customer Margin Balance Form, on a settlement date basis. The information in the monthly report must be as of the last business day of each month, and the reports are due at such time, but in no event later than the sixth business day of the following month. The Form is not yet available. For this March, a report covering the February 2010 reporting period would need to be filed by March 8. Rule 4521(d) replaced old Incorporated NYSE Rules 421(2) and 421.40, became effective on February 8, and applies to all FINRA members that carry customer margin accounts.
Click here to read FINRA Regulatory Notice 10-08.