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🧱 Market Reform

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

SEC Adopts Rule to Increase Transparency Into Short Selling

SEC Adopts Rule to Increase Transparency Into Short Selling and Amendment to CAT NMS Plan for Purposes of Short Sale Data Collection

Fact Sheet Press Release: The Securities and Exchange Commission today adopted new Rule 13f-2 to provide greater transparency to investors and other market participants by increasing the public availability of short sale related data. Congress directed the SEC in Section 929X of the Dodd-Frank Act of 2010 to promulgate rules

SEC Adopts Rule to Increase Transparency in the Securities Lending Market

SEC Alert! SEC Adopts Rule to Increase Transparency in the Securities Lending Market

Background: Statutory Mandate: Section 984(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) added section 10(c) to the Exchange Act to provide the Commission with authority over securities lending.23 Section 984(b) of the Dodd-Frank Act mandates that the Commission increase transparency of

Meeting on Friday, October 13, 2023 at 9:30 a.m. (ET).

SEC to hold an OPEN meeting Friday, October 13, 2023 at 9:30 a.m. (ET) to discuss bona fide market making exception under Rule 203(b) of Regulation SHO & increasing the public availability of short sale-related data.

* The Commission will consider whether to adopt a rule under the Securities Exchange Act of 1934 (“Exchange Act”) to increase the transparency and efficiency of the securities lending market. * The Commission will consider whether to adopt a rule under the Exchange Act that is designed to provide greater transparency to

Vice Chair for Supervision Michael S. Barr

Fed's Michael Barr: The rise in required capital is for activities that have generated outsized losses at large banks & areas where current rules have shortcomings.

Highlights: * "Most of the banks represented in this room today—and the vast majority of banks in the country—would not be subject to the Board's recent "endgame" proposal on bank capital. The proposal affects only the very largest banks." * "The proposal is

The exception FINRA want to insert.

Open for comment: FINRA proposes to add new paragraph (“Protected Options”) to FINRA Rule 4210 (Margin Requirements). Appears to exempt if a long call offsets a short put?

Below is the text of the proposed rule change. Proposed new language is underlined; proposed deletions are in brackets: Wut Mean? (I think): My understanding is there are 2 options plays that require margin, sold puts and sold calls. A sold put means that you need to have margin for

Official Portrait 2022

Gary Gensler: "The SEC now has issued proposals for most of that unified agenda we laid out two years ago." "I will not be able to comment on any active, ongoing litigation."

Source: SEC Chair Gary Gensler Testimony Before the United States House of Representatives Committee on Financial Services With Citadel telling peers it is ready to fight the SEC, Members of Congress introducing bills to fire him, and serious efforts behind closed doors to block the SEC's agenda, I