Paychest Inc (PYCT)

[dcjr4107]

I thought they needed to cover within 13 "settlement" days per NEW FINRA RULE?.

LOL, crooks will always be crooks

Amended by SR-FINRA-2010-028 eff. Oct. 15, 2010

This version of the rule (or interpretive material) does not become effective until Oct 15 2010

This rule was introduced with the filing of SR-FINRA-2010-028, which has been approved by the SEC. This rule becomes effective on October 15, 2010.

(a) If a participant of a registered clearing agency has a fail to deliver position at a registered clearing agency in a non-reporting threshold security for 13 consecutive settlement days, the participant shall immediately thereafter close out the fail to deliver position by purchasing securities of like kind and quantity.

http://finra.complinet.com/en/display/display.html?rbid=2403&element_id=9398