7 Jul 2025
⚖️SEC Approves Amendment for Insider Trading Regulation Responsibilities
Program for Allocation of Regulatory Responsibilities Pursuant to Rule 17d-2; Notice of Filing and Order Approving and Declaring Effective an Amendment to the Plan for the Allocation of Regulatory Responsibilities Among Cboe BZX Exchange, Inc., Cboe BYX Exchange, Inc., NYSE Texas, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., Financial Industry Regulatory Authority, Inc., MEMX LLC, MIAX PEARL, LLC, Nasdaq BX, Inc., Nasdaq PHLX LLC, The Nasdaq Stock Market LLC, NYSE National, Inc., N
Summary
The SEC has approved amendments to the regulatory responsibility plan concerning insider trading enforcement. This approval reallocates regulatory compliance functions primarily to FINRA among involved exchanges, aiming to streamline processes and reduce redundant examinations. The agreement emphasizes cooperation among self-regulatory organizations to enhance investor protection and market integrity.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The text details regulatory responsibilities related to insider trading and allocates regulatory oversight responsibilities to FINRA, impacting compliance requirements for broker-dealers and associated members. It reduces regulatory duplication, which may lower operational costs for these organizations.