Global Tech Industries Group Inc (GTII)

[Hummingbird2]

Shortening the Securities Transaction Settlement Cycle

A Small Entity Compliance Guide[1]
On February 15, 2023, the Securities and Exchange Commission (“Commission”) adopted rule amendments to shorten the standard settlement cycle for most broker-dealer transactions from two business days after the trade date (“T+2”) to one business day after the trade date (“T+1”). In addition, the Commission adopted new rules related to the processing of institutional trades by broker-dealers and certain clearing agencies. The Commission also amended certain recordkeeping requirements applicable to registered investment advisers. These new rules and rule amendments may impact small entities.

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Compliance Date

The effective date of the amendments and new rules discussed above is May 5, 2023. The compliance date is May 28, 2024.

https://www.sec.gov/investment/settlement-cycle-small-entity-compliance-guide-15c6-1-15c6-2-204-2