Regulatory Alerts2021-05-25
Amendments to Rule 45 (1) & (2): Registrable Functions
The Securities & Exchange Commission has updated Rule 45 to expand the list of recognized capital market operators to include digital sub-brokers, robo-advisers, crowdfunding intermediaries, and central counterparty clearing members. These same functions have been added to the list of roles that require corporate body status for application purposes. Existing entities intending to perform registrar functions are still required to incorporate a separate body for that specific purpose.
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