SEC approved FINRA’s plan to replace the Pattern Day Trader

SEC approved FINRA’s plan to replace the Pattern Day Trader rule with intraday margin standards, scrapping the $25,000 minimum equity rule.

Brokers will instead track intraday margin deficits.

The rule takes effect 45 days after FINRA’s notice, with up to 18 months to phase in. pic.twitter.com/0RPspqxqi6

— Wall St Engine (@wallstengine) April 14, 2026