📉Nasdaq PHLX Discontinues Options Regulatory Fee Model Proposal
The Securities and Exchange Commission announced Nasdaq PHLX's proposal to discontinue its Options Regulatory Fee model scheduled for June 2025, following feedback regarding necessary trading data availability. This decision leads to ongoing evaluation and potential reform of the ORF model, aiming for more equitable regulatory fees in future transactions.
Learn More📄CFTC Notice on Information Collection Activities for Swaps
In compliance with the Paperwork Reduction Act of 1995 ("PRA"), this notice announces that the Information Collection Request ("ICR") abstracted below has been forwarded to the Office of Information and Regulatory Affairs ("OIRA"), of the Office of Management and Budget ("OMB"), for review and comment. The ICR describes the nature of the information collection and its expected costs and burden.
Learn More📈SEC Proposes Allocation of Regulatory Responsibilities Between FINRA and 24X
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.
Learn More📜SEC Seeks Comments on Proposed Rule 31 and Form R31 Extension
The Securities and Exchange Commission announces a request for comments on the proposed collection of information under Rule 31 and Form R31. This collection aims to assess and adjust fees from national securities exchanges based on transaction volumes, requiring monthly reporting to ensure compliance with the Securities Exchange Act. The SEC invites input on the practicality and utility of this information gathering process.
Learn More📊NSCC to Mandate Legal Entity Identifier for Membership Applications
The National Securities Clearing Corporation (NSCC) is proposing a rule change requiring all applicants and current members to obtain and maintain a Legal Entity Identifier (LEI). The objective is to enhance data quality and streamline operational processes, thereby improving risk management and compliance across its participant base.
Learn More📈Nasdaq GEMX Discontinues Proposed Options Regulatory Fee Model
Nasdaq GEMX proposes to discontinue the Options Regulatory Fee model scheduled for June 2025 due to feedback from members and an upcoming technology migration at the OCC. The Exchange is evaluating a new model focused solely on on-exchange transactions, aiming for fairness and simplicity in fee assessments.
Learn More⏱️SEC Grants Temporary Exemptive Relief on Timestamp Granularity
The SEC has granted temporary conditional exemptive relief to Participants from certain timestamp granularity requirements under the CAT NMS Plan. This relief is aimed at reducing compliance costs and maintaining market integrity while ensuring adequate regulatory data sequencing, reflecting current industry practices.
Learn More📊Federal Reserve Notice on Nonbanking Activity Proposals
The Federal Reserve System has issued a notice regarding proposals by companies wishing to engage in or acquire nonbanking activities. This notice is open for public comment and includes details about compliance under the Bank Holding Company Act and Regulation Y, affecting business operations across the United States.
Learn More📅SEC Changes Crypto Task Force Meeting Date - Business Implications
The SEC announces a change in the meeting date for the Crypto Task Force roundtable, originally set for June 6, 2025, now rescheduled to June 9, 2025. For more information, contact the Office of the Secretary.
Learn More📈Proposed Rule Changes for ETPs by NYSE Chicago
The SEC has granted accelerated approval for NYSE Chicago's proposed amendments to exchange rules that will allow the listing and trading of Exchange-Traded Products (ETPs). These changes aim to align NYSE Chicago with its affiliate NYSE Arca's rules, enhancing market access and fostering competitive trading environments for various financial products.
Learn More