📈NYSE Texas Proposes New Rule on Prevention of Information Misuse
Self-Regulatory Organizations; NYSE Texas, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt New Rule 11.30
Summary
The NYSE Texas proposes Rule 11.30, aimed at preventing the misuse of material, non-public information among Participants. This regulation mandates the establishment of written compliance policies, timely reporting, and acknowledgement of these provisions. The rule closely mirrors existing regulations from NYSE Arca, ensuring consistency and robustness in market integrity practices.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed Rule 11.30 requires Participants to establish compliance measures against the misuse of material, non-public information, impacting operational and regulatory strategies for businesses. Failure to comply results in financial penalties and potential disciplinary actions, underscoring the importance of adherence to these regulations for market participation.