FINRA's Intraday Margin Standard: What Investors and Members Need to Know

A FINRA Unscripted episode on FINRA's replacement of the Pattern Day Trader rule with the Intraday Margin Standard under FINRA Rule 4210. Racquel Russell, director of capital markets policy, and James Barry, senior director of credit regulation, discuss why the old rules existed, why FINRA says they stopped working, and what the new framework means for investors and member firms.

1. FINRA replaced the Pattern Day Trader rule with a risk-based Intraday Margin Standard under Rule 4210.
2. The $25,000 minimum and the Pattern Day Trader rule governed margin access for day trading for more than two decades.
3. FINRA says markets have changed substantially since 2001, which prompted the review and the new framework.
4. The episode features Racquel Russell of capital markets policy and James Barry of credit regulation, and lists Rule 4210, related interpretations and investor education notes as resources.