February Update: Punxsutawney Phil saw his shadow, 6 more months of a FINRA Rule 4210 Deferral

According to Newsweek, Punxsutawney Phil saw his shadow on February 2, 2023, signaling 6 more weeks of winter. And, on February 24, 2023, the Financial Institution Regulatory Authority (FINRA) submitted a filing to the SEC that, in effect, will defer implementation of revisions to FINRA Rule 4210 mandating so-called “TBA margining” (technically, margin requirements in respect of Covered Agency Transactions) by another 6 month period .

The “new” effective date for the implementation of revisions to FINRA Rule 4210 that mandate the margining of Covered Agency Transaction is (as of now) October 25, 2023.

Coincidence?

Hardly – in fact the two events are not related at all….To quote that wise video game character Mario (of Super Mario Bros. fame), “Here we go again.”

Good day. Good delay (again)? DR2