News & Analysis as of

Financial Industry Regulatory Authority (FINRA) Securities Exchange Act of 1934 Securities Regulation

Orrick, Herrington & Sutcliffe LLP

SEC Short Interest and Securities Lending Reporting Rules Remanded

On August 25, the United States Court of Appeals for the Fifth Circuit remanded two rules adopted by the Gensler-era SEC: the Securities Lending Reporting Rule and the Short Interest Reporting Rules (the Rules). While the...more

ArentFox Schiff

Nasdaq Rule Change Lengthens Reverse Stock Split Notice Period

ArentFox Schiff on

Last November, Nasdaq proposed a rule change that would lengthen the notification period for companies conducting reverse stock splits from five business days to 10 calendar days. The rule change became effective immediately...more

Mayer Brown Free Writings + Perspectives

FINRA Provides Guidance on Timing Requirements under Certain Broker-Dealer Financial, Operational and Reporting Rules in the Event...

On December 31, 2024, the Financial Industry Regulatory Authority, Inc. (“FINRA”) issued Regulatory Notice 24-18 (“RN 24-18”) to provide updated guidance to members regarding Rules 15c3-1, 15c3-3 and 17a-5 under the...more

Carlton Fields

SEC Seriously Limits Dealer/Trader Distinction: Betting Window Open Re Federal Court Veto

Carlton Fields on

On February 6, 2024, the SEC adopted new rules under the Securities Exchange Act of 1934 (Exchange Act), to expand the scope of “dealers” and “government securities dealers” required to register under the Exchange Act, become...more

SEC Compliance Consultants, Inc. (SEC³)

Compliance Roundup for April 5, 2024

Compliance Update for the week Ending April 5, 2024 - For our clients and compliance colleagues, this weekly update will give you a quick look at the latest regulatory developments. Enjoy!...more

Jones Day

Who Needs Customers, Anyway? New SEC Rules Turn Traders Into Dealers

Jones Day on

The Securities and Exchange Commission (the "SEC" or "Commission") has adopted new rules that further define the phrase "part of a regular business" for purposes of determining whether a person is a "dealer" or "government...more

Akin Gump Strauss Hauer & Feld LLP

SEC Adopts Narrower Version of Dealer Registration Rules

Earlier today, the Securities and Exchange Commission in a 3‑2 vote adopted new Rules 3a5‑4 and 3a44‑2 (together, the Dealer Rules) under the Securities Exchange Act of 1934, as amended (the Exchange Act), that will define...more

Goodwin

SEC’s ATS Re-proposal Doubles Down on DeFi and Digital Asset Regulation

Goodwin on

In April 2023, the SEC re-proposed amendments to Exchange Act Rule 3b-16 to expand the definition of what it means to be an exchange. When the SEC initially proposed these amendments in January 2022, there were zero direct...more

Mayer Brown Free Writings + Perspectives

SEC Significantly Narrows Exemption from FINRA Membership for Proprietary Trading Firms

On August 23, 2023, the U.S. Securities and Exchange Commission (“SEC”) adopted amendments (the “Amendments”) to Rule 15b9-1 (“Rule 15b9-1”) under the Securities Exchange Act of 1934 (the “Exchange Act”) that generally...more

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