Petra's Managing Director of Credit, Adam Weiss, was recently featured in Law60 explaining what financial companies must do to remain compliant with the new T+1 settlement rule.
The U.S. Securities and Exchange Commission (SEC) has adopted the T+1 settlement rule in response to market volatility experienced during the stock frenzy of 2021. Effective May 28, 2024, the new rule aims to improve market efficiency by reducing settlement periods from the current T+2 to T+1. This will have a large impact on the financial services industry and firms should begin preparing for the change now.
Read the full article here.
