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SEC Chair Gary Gensler

Gary Gensler on proposed Rule 6b-1: "Currently, the playing field upon which broker-dealers compete is unlevel." "we request public comment regarding whether volume-based discounts should be prohibited, & if so to what degree."

Highlights: * "Currently, the playing field upon which broker-dealers compete is unlevel. Mid-sized and smaller broker-dealers effectively pay higher fees than larger brokers to trade on most exchanges. This is because exchanges generally charge brokers net trading fees or pay rebates back to brokers that vary depending on the brokers’

SEC Proposes Rule to Address Volume-Based Exchange Transaction Pricing for NMS Stocks

SEC Alert & OPEN for Comment Alert! SEC Proposes Rule to Address Volume-Based Exchange Transaction Pricing for NMS Stocks.

Background: National securities exchanges (“exchanges”) that trade NMS stocks maintain pricing schedules that set forth the transaction pricing they apply to their broker-dealer members that execute orders on their trading platforms. As self-regulatory organizations under the Exchange Act, exchanges are subject to unique principles and processes that do not apply

CFTC Commissioner Christy Goldsmith Romero

CFTC Commissioner Christy Goldsmith Romero's statement supporting the Staff Advisory adopting her proposal that in negotiations, respondents should no longer assume that no-admit, no-deny resolutions are the default.

What is her statement about? The guidance from the Division of Enforcement Staff. The enforcement advisory offers guidance to the Division of Enforcement staff. The guidance is about: 1. Determining if the suggested civil monetary penalty is adequate for both general and specific deterrence, especially concerning repeat offenders. 2. Deciding

ADVISORY REGARDING PENALTIES, MONITORS AND CONSULTANTS, AND ADMISSIONS IN CFTC ENFORCEMENT ACTIONS

CFTC Alert! CFTC Releases Enforcement Advisory on Penalties, Monitors and Admissions: "In negotiations, respondents should no longer assume that no-admit, no-deny resolutions are the default."

Wut Mean? The enforcement advisory offers guidance to the Division of Enforcement staff. The guidance is about: 1. Determining if the suggested civil monetary penalty is adequate for both general and specific deterrence, especially concerning repeat offenders. 2. Deciding on the necessity of a corporate compliance monitor or consultant and

Business Activity: Diffusion Index of Current and Expected Activity

NY Fed October Business Leader Survey: "Activity declined significantly in the region’s service sector." "The headline business activity index dropped sixteen points to -19.1, its lowest level in several months." "while wages grew"...

Highlights General Business Activity Overview: * The service sector in the region experienced a significant decline as per the Federal Reserve Bank of New York’s October 2023 Business Leaders Survey. * The business activity index saw a considerable drop of sixteen points, reaching -19.1, its lowest in several months. * The

Joint Readout of Principals’ Meeting of UK and U.S. Authorities Regarding Central Counterparty Resolution

Senior officials from the Bank of England, FDIC, CFTC, SEC, & the Fed convened a hybrid meeting today "to discuss certain issues relating to the resolution of a central counterparty (CCP)."

Source: https://www.sec.gov/news/press-release/2023-224 Source 2: https://www.cftc.gov/PressRoom/PressReleases/8807-23 Senior officials from the Bank of England, Federal Deposit Insurance Corporation, Commodity Futures Trading Commission, Securities and Exchange Commission, and Federal Reserve Board convened a hybrid meeting today to discuss certain issues relating

Best Buy blames 'Barbenheimer', Apes rally around Oppencohen!

While Best Buy's CEO complains about Taylor Swift, 'Barbenheimer', & 'funflation' hurting sales, GameStop has Apes holding down the balance sheet in an economy facing headwinds and rallying around 'Oppencohen'!

Non-paywalled: https://finance.yahoo.com/news/best-buy-ceo-blames-taylor-170000068.html “’Funflation,’ Taylor Swift… those experiences are really where people are willing to pay,” said Best Buy CEO Corie Barry at Fortune’s Most Powerful Women summit last week. “[B]igger ticket items in electronics are not right now where people are interested.