📈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📈Nasdaq ISE to Discontinue Options Regulatory Fee Model
The Securities and Exchange Commission has published notice regarding Nasdaq ISE's proposal to discontinue the Options Regulatory Fee model scheduled for June 2025. The decision follows member feedback indicating billing complications due to a lack of necessary information from technology migrations. ISE is committed to reforming the ORF model to simplify billing and enhance market participation.
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🤝SEC Notice on Co-Investment Application for Business Development Companies
The SEC has issued a notice regarding an application for an order under the Investment Company Act of 1940. This order seeks to permit specific business development companies and investment entities to engage in joint transactions, allowing co-investment in portfolio companies, potentially enhancing collaboration among investment firms.
Learn More📈ICC Proposes Changes to Risk Management and Margin Policies
The SEC approved ICC's proposed rule changes to its Risk Parameter Setting and Review Policy, enhancing its risk management framework. The updates include daily adjustments to risk parameters and improved documentation methods, aiming to mitigate procyclicality and ensure timely responses to market conditions. These changes are designed to bolster the robustness of clearing operations and safeguard financial stability.
Learn More📈OCC's Proposed Rule Change for Recovery and Wind-Down Plan
The Securities and Exchange Commission has published a notice concerning the proposed rule change by the Options Clearing Corporation, aimed at modifying its Recovery and Orderly Wind-Down Plan. This initiative intends to align with recently adopted SEC rules, enhancing transparency and efficacy in financial stability during extreme market conditions by identifying core services and necessary staffing roles.
Learn More💼SEC Notice for Virtus Fund Exemptions Impacting Investment Companies
The SEC has issued a notice regarding an application from Virtus Global Credit Opportunities Fund seeking exemptions under the Investment Company Act of 1940. This includes permission for multiple share classes and the ability to implement asset-based distribution fees, which could reshape service offerings for investment companies.
Learn More📈SEC Notice on Co-Investment for Franklin Lexington Fund
The SEC has issued a notice regarding an application from various Franklin Lexington entities to allow business development companies and investment firms to co-invest in portfolio companies. This regulatory change may provide new opportunities for joint transactions that are typically prohibited, thereby enhancing investment capabilities and collaboration among companies.
Learn More⚖️SEC Notice
The SEC will hold a closed meeting to address various legal and enforcement issues, including the institution of injunctive actions and administrative proceedings. Attendees will include Commissioners and legal counsel, discussing urgent matters that could influence regulatory strategies and compliance for businesses in the securities sector.
Learn More📊SEC Proposes Rule Change for NYSE American Connectivity Fees
The SEC announces proposed amendments to the NYSE American LLC’s Connectivity Fee Schedule, addressing connectivity options and fees related to third-party systems and data feeds. The changes seek to enhance the services available to users while ensuring equitable access across the board.
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