T+1 and Done: SEC Shortens the Securities Transaction Settlement Cycle

On February 15, 2023, the SEC released several rule amendments, including an amendment to Exchange Act Rule 15c6-1(a) changing the standard settlement cycle for most broker-dealer transactions to T+1 (i.e., one day after the trade date) and an amendment to Exchange Act Rule 15c6-1(c) shortening the standard settlement cycle for firm commitment offerings from T+4 to T+2. Read this article to get up to date on these and other amendments made at the same time.

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