Rule 290. Defaulting Party May Deliver After "Buy-In" Notice
This rule is no longer applicable effective November 11, 2008.
A defaulting member or member organization (seller) who has received a "buy-in" notice, pursuant to Rule 282, or re-transmitted notice thereof, may deliver the securities to the initiating member or member organization (buyer) issuing such notice up to 3:00 p.m. ET. The defaulting member organization may deliver such securities after 3:00 p.m. ET on the "effective date" of the buy-in notice if: (i) agreed to by the initiating member organization, (ii) before the execution of the order and (iii) when the defaulting member organization has physical possession of the securities.
November 28, 2005 (NYSE-2005-50).
Deleted by SR-FINRA-2008-036 eff. Nov. 11, 2008.
Selected Notice: 08-64.