Regulatory Alerts2022-08-12 | 2022-16711Added
Exemption for Certain Exchange Members
The Securities and Exchange Commission proposes amendments to Rule 15b9-1 to eliminate the de minimis allowance and proprietary trading exclusion from national securities association membership requirements. The revised rule would require registered brokers or dealers that are exchange members but effect off-exchange transactions to join an association, unless their off-exchange activity is limited to specific routing or stock-option execution purposes. This change aims to enhance regulatory oversight of significant electronic proprietary trading and ensure consistent enforcement of federal securities laws across the fragmented market.
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