UPC Advisory Information

Uniform Practice Code Advisories are notices which are issued pertaining to unusual circumstances such as extremely large dividends, when-issued settlement dates, ex-interest dates for bonds, worthless securities, cancelled IPOs, etc. Their intent is to announce rulings, interpretations, exemptions and advisories on these subjects in order to facilitate the transaction of a member's day-to-day business and to eliminate business disputes and misunderstandings which may arise from uncertainty and lack of uniformity in such matters.


The subjects addressed in the Uniform Practice Code Advisories are subject to the provisions of the FINRA Uniform Practice Code (Rule 11000 Series) which is administered by FINRA Operations. They appear on the FINRA Web site to facilitate a member's compliance with FINRA regulations.