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Finra Rule: UNIFORM PRACTICE CODE(13)
USINFO | 2013-12-18 16:10
(a) Notice of Buy-In
| ............................................................ | |
| (Member's Name) | |
| ........................................................... | |
| (Locality and Date) | |
| TO .................................................................................................................................. | |
| RE .................................................................................................................................. | |
| (Quantity and Description of Security) | |
| which is due from you to the undersigned on a contract made on ........... at .............. for settlement | |
| (Date of Contract) | (Contract Price) |
| .................................................... | |
| (Settlement Date) | |
| * * * | |
|
We hereby notify you that unless you make delivery of the foregoing security at or before .................. (Time and Date) the security will be bought in for your account and risk pursuant to Rule 11810 in the Uniform Practice Code. |
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Note: If some or all of the foregoing securities are due you by another member of the Financial Industry Regulatory Authority, Inc. Rule 11810 permits the use of the re-transmitted buy-in. |
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| Buy-In Dept. | |
| By: | |
| Phone: | |
(b) Notice of Re-transmitted Buy-In
| ................................................................................ | |
| (Member's Name) | |
| ................................................................................ | |
| (Locality and Date) | |
| TO .................................................................................................................................. | |
| RE .................................................................................................................................. | |
| (Quantity and Description of Security) | |
|
which is due from you to the undersigned on a contract made on ........... at .............. for settlement on |
|
| (Date of Contract) | (Contract Price) |
| .................................................... | |
| (Settlement Date) | |
| * * * | |
|
We hereby inform you that a notice of buy-in has been issued with respect to the aforesaid securities and stated that unless delivery was made at or before .................. (Time and date on original buy-in) the securities may be bought in pursuant to Rule 11810 of the Uniform Practice Code. |
|
|
Note: If some or all of the foregoing securities are due you by another member of the Financial Industry Regulatory Authority, Inc. Rule 11810 also permits you to use the re-transmitted buy-in. |
|
| Buy-In Dept. | |
|
By: Phone: |
|
11820. Selling-Out
(a) Conditions Permitting "Sell-Out"
Upon failure of the buyer to accept delivery in accordance with the terms of the contract, and lacking a properly executed Uniform Reclamation Form or the equivalent depository generated advice for depository eligible securities meeting the requirements prescribed in Rule 11710(b), the seller may, without notice, "sell-out" in the best available market and for the account and liability of the party in default all or any part of the securities due or deliverable under the contract.
(b) Notice of "Sell-Out"
The party executing a "sell-out" as prescribed above shall, as promptly as possible on the day of execution, but no later than 6 p.m. ET, notify the broker-dealer for whose account and risk such securities were sold of the quantity sold and the price received. Such notification shall be in written or electronic form having immediate receipt capabilities. A formal confirmation of such sale shall be forwarded as promptly as possible after the execution of the "sell-out."
11840. Rights and Warrants
(a) Definition — "Rights"
The term "rights" or "rights to subscribe," as used in this Rule is the privilege offered to holders of record of issued securities to subscribe (usually on a pro rata basis) for additional securities of the same class, of a different class, or of a different issuer as the case may be.
