- If in the illustration below, funds for the purchase of a security were from a sale of another security prior to market close on the same day
(Tuesday), can the newly acquired security be sold at market open on the second
day (Thursday) without violating the SEC rule? Put in simpler terms, is Thursday at market open in the attached photo the first day the security purchased Tuesday can be sold per the rules? Or is it Friday? Question 2
- If one already owned a sizable number of shares of the newly acquired security (bought with settled funds) and only acquired one additional share with unsettled money on Tuesday, does the ban on selling apply to all
previously owned shares of the security or only to the most recently purchased one?
Thanks for any answers / insights.