Series 27: Completion Of Customer Sell Orders

Taken from our Series 27 Online Guide

Completion of Customer Sell Orders

If 10 business days after the settlement date a broker-dealer has not obtained possession of a customer’s securities after executing the customer’s sell order, it must immediately close the transaction by purchasing securities of like kind and quantity. This requirement does not apply to broker-dealers that maintain an omnibus credit account with another broker-dealer.

SEC Rule 15c3-3(m)

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Series 27: Completion Of Customer Sell Orders

Taken from our Series 27 Online Guide

Completion of Customer Sell Orders

Since you're reading about Series 27: Completion Of Customer Sell Orders, you might also be interested in:

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