IIAC Comments to SEC on T+1 Securities Settlement Cycle
The IIAC responded to the U.S. Securities and Exchange Commission’s (SEC) request for comment on shortening the securities transaction settlement cycle to T+1. In its letter the IIAC requested that the SEC extend its proposed T+1 compliance date from March 31, 2024 to September 30, 2024. This extension would provide both the Canadian and U.S. industries additional time to complete the necessary undertakings for their respective moves to T+1. It would also open additional windows for the Canadian and U.S. industries to find a suitable common transition date.
For additional information contact Jack Rando.