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Reporting procedures for out-trades and account number corrections subsequent to transaction and allocation
A securities broker shall report out-trades and account number corrections by 10 a.m. of the second business day following the transaction date, for the securities trading account of each principal subsequent to allocation, pursuant to the following rules:
- If an out-trade has been reported, and the handling of the out-trade with a repurchase or resale has also been reported, the securities broker may not thereafter report a partial adjustment of allocation.
- If an out-trade has been reported but its handling by means of a repurchase or resale has not yet been reported, if the securities broker intends to report a partial adjustment of allocation, it shall first withdraw the previous post-allocation out-trade, then report the partial adjustment of allocation.
- If, after reporting correction of an account number, the securities firm intends to report a partial adjustment of allocation, it shall first withdraw the post-allocation account number correction and then report the partial adjustment of allocation.
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