The Wolf of Wall Street has been given an R rating, after several cuts were made to avoid the dreaded NC-17 rating.

Insiders claim that Paramount and the MPAA's Classification and Ratings Administration Board had several exchanges about what changes needed to be made in order to secure an R rating. Director Martin Scorsese agreed to cut several scenes with nudity and sex.

The film has also been confirmed for a two hour and 59-minute run time, including credits, which makes this true story adaptation the filmmaker's longest movie ever, beating out Casino by just one minute. The drama was initially scheduled to open on November 15, although the studio delayed it after the run time was rumored to go well over three hours. After several cuts were made, Paramount issued a December 25 release date in October.

Related: The Wolf of Wall Street Red Band Martin Scorsese Featurette | EXCLUSIVE

Leonardo DiCaprio stars in the drama as Jordan Belfort, a financial guru who started his own stockbroking firm and built lucrative empire based out of his Long Island office. Jonah Hill, Matthew McConaughey, Margot Robbie and Jon Bernthal co-star in the adaptation, which was written by Boardwalk Empire creator Terence Winter.