TL;DR
One-year compliance extension aims to support operational readiness across the industry.
June 26, 2025
The U.S. Securities and Exchange Commission (SEC) has voted to delay the implementation of a key regulatory requirement, giving broker-dealers more time to adjust to significant operational changes.
Compliance Deadline Extended
The SEC has extended the compliance date for amendments to Rule 15c3-3, also known as the Customer Protection Rule, from December 31, 2025, to June 30, 2026.
The rule requires certain broker-dealers to shift from weekly to daily reserve fund computations, enhancing oversight of customer assets and improving responsiveness to market volatility.
These amendments, adopted on December 20, 2024, are intended to improve investor protection by ensuring reserve requirements are calculated more frequently and accurately.
SEC Chair Cites Practical Concerns
SEC Chairman Paul S. Atkins stated the extension reflects a more realistic and supportive approach to compliance.
“The days of unreasonable deadlines have passed,” Atkins said. “By extending this compliance date, we are giving broker-dealers additional time to implement daily computation under Rule 15c3-3.”
Atkins noted the Commission’s unanimous agreement on the need for extra time, emphasizing that many firms could face significant operational challenges if forced to meet the original deadline.
Industry Readiness and Reaction
Many broker-dealers welcomed the extension, citing the need to overhaul legacy systems, implement new automation processes, and conduct robust testing of daily computation mechanisms.
Compliance professionals say the transition to daily calculations isn’t just a frequency change—it represents a significant systemic and procedural shift. Firms must also train staff, ensure vendor readiness, and adjust audit protocols.
The extension offers breathing room for firms of all sizes, particularly smaller broker-dealers with fewer technological resources.
Long-Term Regulatory Direction
Despite the delay, the SEC remains committed to transitioning the industry to daily reserve computations as a long-term standard. The move is part of broader efforts to modernize regulatory safeguards in an increasingly fast-paced and digital financial system.
The Commission is expected to continue engaging with market participants over the coming year to assess progress and provide additional guidance if necessary.