Important Reg T Extension Request System Announcement

Many firms that file extensions via batch processing have been experiencing a large number of 'REJECTED' extensions with the following error message; "Original Extension Request not found. Secondary request rejected".

There are several reasons that you are experiencing these Rejects:

• If no first extension was submitted, and 'GRANTED', the second request will be rejected.
• Pursuant to Regulatory Notice 08-32, when filing a secondary extension, firms must populate the "Request Date" field with the original extension Request Date. If a firm submits a secondary extension with any date other then the date of the first request in the "Request Date" field, the extension will be rejected.
• The other issue is a systems problem within the Reg T application that we anticipate will be resolved this weekend (11/22/08).

In the meantime, we are asking firms to request all subsequent extensions by entering the request individually online through the Reg T application.

This can be accomplished by first finding the original extension in "Active Filings" and clicking "AMD" for a subsequent request. A pre-populated form will pop up with the extension information from the original request. You will have the option to change, if applicable; the reason code, the amount, and the days requested. Upon making any applicable changes, you must click submit in order to process the request.

We appreciate your patience. Please contact Vincent Rotolo at (646) 315-8576 or Theresa Reynolds at (646) 315-8567 with any questions.