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The regulator is letting the industry steering committee for shorter settlement cycles know that it may be a while before the SEC changes its rules governing settlement.
The securities industry’s desire for regulatory certainty on shorter settlement cycles based on the trade date plus two business days (T+2) faces a bit of setback as SEC Chair Mary Jo White suggested the industry continue its work on achieving T+2 without waiting for the SEC to propose the necessary rules. The SEC strongly supports...
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