📊IEX's Free Trial Program for Real-Time Market Data Products
The Investors Exchange LLC (IEX) is implementing a free trial program for its real-time market data products, specifically TOPS and DEEP. This initiative allows first-time recipients to access these data feeds for up to 30 days without fees, aiming to enhance market data accessibility and stimulate interest among potential subscribers.
Learn More⚖️FINRA Proposes Rule Change on Expulsion Effectiveness
The Financial Industry Regulatory Authority (FINRA) proposes a rule change that stays the effectiveness of certain expulsions and related FINRA actions against member firms until reviewed by the SEC. This aligns with legal precedents and aims to enhance clarity and fairness in the discipline of member firms while maintaining investor protection standards.
Learn More📈Proposed Rule Change for Grayscale Hedera Trust Trading on Nasdaq
The SEC has opened proceedings to evaluate the proposed rule change allowing the Nasdaq Stock Market to list and trade shares of the Grayscale Hedera Trust (HBAR). This process invites public comments and analyses regarding the initiative's compliance with regulatory standards, particularly concerning preventing fraud and protecting investors' interests.
Learn More📈SEC Withdraws Proposed Regulatory Actions Impacting Businesses
The Securities and Exchange Commission ("Commission") is formally withdrawing certain notices of proposed rulemaking issued between March 2022 and November 2023. The Commission does not intend to issue final rules with respect to these proposals. If the Commission decides to pursue future regulatory action in any of these areas, it will issue a new proposed rule.
Learn More📈SEC Notice on Venerable Variable Insurance Trust Exemption Application
The SEC has issued a notice regarding an application from Venerable Variable Insurance Trust and Venerable Investment Advisers, LLC, seeking an exemption under the Investment Company Act. This exemption would allow the approval of sub-advisory agreements without the need for in-person meetings, aiming to streamline governance and operational processes for the trust's board of trustees.
Learn More📈FINRA Modifies Implementation Schedule of Securities Fees
The SEC published a notice regarding FINRA's proposed rule change to modify the implementation schedule for fees associated with filing documents under the securities offering rules. This adjustment aims to provide member firms and issuers additional time for budgeting and operational changes related to new fees for private placements and public offering reviews.
Learn More💰LCH SA's Revised Collateral Concentration Limits Approved
The Securities and Exchange Commission has approved LCH SA's proposed rule change regarding collateral concentration limits for supranational and European agency securities. The change allows for individual limits per issuer, enhancing flexibility for clearing members while simultaneously implementing more conservative concentration guidelines per security type to mitigate risk exposure.
Learn More📈Proposed Amendments to Rule 605 of Regulation NMS and Business Impact
The Securities and Exchange Commission announces proposed amendments to the National Market System Plan under Rule 605 of Regulation NMS, aiming to modernize execution quality reporting. These changes will include expanded reporting for multiple entities, updated data fields, and the introduction of new summary reports to enhance market transparency and compliance.
Learn More📈Nasdaq MRX Proposes Fee Discount Changes for Market Makers
The Securities and Exchange Commission has published a notice regarding Nasdaq MRX's proposed amendment to its pricing schedule, which aims to increase the fee discount for Market Makers when trading against Priority Customer orders originating from Affiliated Members or Entities. The changes are intended to enhance liquidity and encourage the flow of customer orders to the exchange, impacting trading operations within the options market.
Learn More📅Extension of Form PF Compliance Date for Investment Advisers
The Commodity Futures Trading Commission ("CFTC") and the Securities and Exchange Commission ("SEC") (collectively, "we" or "Commissions") are further extending the compliance date for the amendments to Form PF that were adopted on February 8, 2024, from June 12, 2025, to October 1, 2025. Form PF is the confidential reporting form for certain SEC-registered investment advisers to private funds, including those that also are registered with the CFTC as a commodity pool operator ("CPO") or commodity trading adviser ("CTA").
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