📈SEC Approves Regulatory Responsibility Amendment for Insider Trading
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 an amendment to the plan for allocating regulatory responsibilities among various trading organizations, aimed at enhancing efficiencies in surveillance, investigation, and enforcement of insider trading rules. This amendment adds Green Impact Exchange, LLC as a participant and aims to minimize regulatory duplication, fostering a more streamlined approach for compliance across organizations.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The regulation outlines the SEC's approval of an amended plan for allocating regulatory responsibilities among trading organizations, which affects the compliance obligations of participating firms regarding insider trading rules. This impacts business owners and executives as it may reduce regulatory costs and streamline compliance processes.