Search Results for keywords:"self-regulatory organizations"

The New York Stock Exchange (NYSE) has proposed a rule change to eliminate the cap on the fee discount provided to certain investment management entities and their eligible portfolio companies. Previously, there was a maximum limit on the discount, which created unequal fee outcomes for similar companies. By removing this cap, all qualifying companies will uniformly receive a 50% annual fee discount without a maximum limit, promoting fairness and consistency. The change is expected to have minimal impact on overall competition, as only a small percentage of companies qualify for this discount.

Nasdaq BX, Inc. has proposed a rule change to adjust certain exchange fees based on inflation rates. These fee adjustments, which took effect upon proposal and will become fully operative by January 1, 2025, aim to restore the real value of fees that have remained static over time, eroding in purchasing power due to inflation. The changes will occur in three phases over three years, affecting specific market data products but not all fee categories. The adjustments are calculated using the Data Processing Producer Price Index (PPI) and aim to support the Exchange's ongoing investments in its data products and services.

The Securities and Exchange Commission (SEC) announced a proposed rule change by NYSE Texas to adopt NYSE Rule 4530 with minor modifications. This rule requires detailed reporting on events like statutory disqualifications and customer complaints for better regulatory oversight. The new rule aligns NYSE Texas with the NYSE and FINRA's requirements, improving consistency and easing compliance for firms already following similar protocols. The SEC is seeking public comments on this proposal, emphasizing the importance of transparency and effective market regulation.

The Securities and Exchange Commission has released a notice regarding a proposed rule change by MEMX LLC. The change involves amending a rule to allow MEMX to handle limit orders even when the national best bid or offer (NBBO) is not available, arguing that this will enhance market liquidity and benefit members by enabling the submission of orders that could help establish the NBBO. Unlike market orders, limit orders have a specific price limit set by the user, minimizing the risk of unintended prices due to NBBO unavailability. The Commission has waived the usual delay for the proposal to become operative, allowing it to take immediate effect. Critics or supporters of this change can submit their comments to the Commission as outlined in the notice.

The Securities and Exchange Commission (SEC) has requested the Office of Management and Budget (OMB) to approve an extension for collecting fingerprint information as required by Rule 17f-2(c) under the Securities Exchange Act of 1934. This rule involves the submission of fingerprints by certain people in the securities industry to the FBI through registered exchanges or associations, known as self-regulatory organizations (SROs). About 3,900 entities submit roughly 281,804 fingerprints annually, which takes around 70,451 hours in total. Fees for processing these fingerprints amount to over $7 million per year, ensuring careful handling and confidentiality.