Extensions of Time
If a registered national securities exchange or a registered securities association is satisfied that a broker-dealer is acting in good faith in making an application for an extension of time, and if exceptional circumstances warrant, it may extend the requirement that the broker-dealer take action within a designated period of time to buy-in a security. Each exchange or association shall make and preserve for a period of not less than three years a record of each extension granted, which shall contain a summary of its justification.
SEC Rule 15c3-3(n)
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Timeline to Obtain Possession or Control of Fully Paid and Excess Margin Securities |
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Type of Security |
Timeline |
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Securities pledged as loan collateral |
2 business days |
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Securities on loan to another broker-dealer |
5 business days |