12 Feb 2025
⚖️MIAX Sapphire Proposes New Fines for Minor Regulatory Violations
Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Order Granting Accelerated Approval of a Proposed Rule Change To Amend Exchange Rule 1014, Imposition of Fines for Minor Rule Violations
Summary
MIAX Sapphire is seeking to implement amendments to Exchange Rule 1014 concerning the imposition of fines for minor rule violations on its Trading Floor. The proposed changes underscore the need for compliance with updated trading conduct rules while promoting orderly market operations within the exchange framework.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The regulatory text pertains to amendments in Exchange Rule 1014, establishing fines for minor violations applicable to MIAX Sapphire's Trading Floor operations. This impacts business owners and executives as it entails compliance with new trading conduct and decorum rules and potential financial penalties, which can influence operational costs.