8 May 2025
📈SEC Proposes Allocation of Regulatory Responsibilities Between FINRA and 24X
Program for Allocation of Regulatory Responsibilities Pursuant to Rule 17d-2; Notice of Filing of Proposed Plan for the Allocation of Regulatory Responsibilities Between the Financial Industry Regulatory Authority, Inc. and 24X National Exchange LLC
Summary
The SEC has announced a proposed plan for the allocation of regulatory responsibilities between FINRA and 24X National Exchange, aimed at reducing regulatory duplication and compliance costs for firms that are members of both organizations. This plan will enable enhanced coordination and oversight within the financial securities industry.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed plan aims to allocate regulatory responsibilities between FINRA and 24X National Exchange, which directly impacts compliance for member firms and could reduce unnecessary examination costs, thus impacting operational efficiency and compliance expenses for businesses involved with both entities.