FINRA proposed to delay the implementation of amendments imposing margin requirements on "Covered Agency Transactions" under FINRA Rule 4210 ("Margin Requirements") until April 26, 2022. (The rules are currently scheduled to become effective on January 26, 2022.)

The proposed additional delay follows FINRA's May 2021 proposal of amendments to requirements under SR-FINRA-2015-036 ("Amendments to FINRA Margin Requirements for the TBA Market"). The requirements under SR-FINRA-2015-036 were themselves approved by the SEC, but not implemented, as to margin collection. The effective date for the SR-FINRA-2015-036 requirements was initially set for December 2017 but has been delayed until January 26, 2022. FINRA explained that further delay is necessary in order to give the SEC additional time to provide "regulatory clarity" as to the effects of the implementation of the May 2021 amendments proposal.

FINRA submitted the filing for immediate effectiveness. Comments on the filing must be submitted within 21 days after its publication in the Federal Register.

Primary Sources

  1. SR-FINRA-2021-028: Proposed Rule Change to Extend the Implementation Date of Certain Amendments to FINRA Rule 4210 Approved pursuant to SR-FINRA-2015-036

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