📈OMB Review and Comment Request on Regulation ATS, Rule 304
Submission for OMB Review; Comment Request; Extension: Rule 304 of Regulation ATS
Summary
The Securities and Exchange Commission has announced a request for OMB review regarding Rule 304 of Regulation ATS, which establishes compliance requirements for alternative trading systems. This rule, including Form ATS-N, aims to enhance operational transparency, promote competition, and ensure market participants are informed about ATS operations and potential conflicts of interest.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The text outlines compliance and regulatory requirements for alternative trading systems (ATS) under the Securities Exchange Act. Specifically, Rule 304 mandates the filing of Form ATS-N and record-keeping, which imposes operational transparency and informs market participants about potential conflicts of interest. Non-compliance could lead to penalties, directly impacting business operations.