📈SEC Proposal on Timestamp Granularity Compliance and Its Impact
Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 4.10 of the Exchange's Compliance Rule Regarding the National Market System Plan Governing the Consolidated Audit Trail To Be Consistent With the Exemptive Relief Granted by the Commission From Certain Provisions Related to Timestamp Granularity
Summary
The SEC has published a notice regarding MEMX LLC's proposed amendment to compliance rules to extend the timestamp granularity exemption until April 8, 2030. This change aims to align the Exchange's rules with regulatory requirements, ensuring industry members report timestamps accurately without rounding. The proposal addresses the practical needs of businesses in the trading sector related to compliance and reporting standards.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The document announces a proposed amendment to compliance rules under the SEC's jurisdiction that affects timestamp reporting for industry members. This change extends an exemption that could significantly influence reporting practices and operational compliance costs for businesses involved in trading NMS securities, thus directly impacting their regulatory obligations.