15 Sep 2025
📉SEC Approves Amendments to Rule 605 for National Market System
Joint Industry Plan; Order Approving an Amendment to the National Market System Plan Establishing Procedures Under Rule 605 of Regulation NMS, as Modified by the Commission, To Reflect Recent Amendments to Rule 605 of Regulation NMS
Summary
The SEC has approved amendments to the National Market System Plan under Rule 605, modernizing reporting procedures and expanding requirements for market centers and broker-dealers. The changes aim to enhance transparency and accessibility of execution quality reports by incorporating new data fields and summary reports. This update is part of ongoing efforts to ensure investor protection and maintain orderly market operations.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The content involves compliance and regulatory requirements for businesses trading in securities. The amendments to Rule 605 outlined in the text expand the scope for reporting entities and modify disclosures in execution quality reports, impacting how firms must operate to comply with SEC regulations.