Search Results for keywords:"Securities Exchange Act"

Nasdaq PHLX LLC has filed a proposed rule change with the Securities and Exchange Commission, which took effect immediately. This change involves introducing a new protocol called “Ouch to Trade Options” or “OTTO” and updating pricing and several related rules, like order types and communication protocols. The proposal and its details can be viewed on Nasdaq's and the Commission's websites. The SEC is seeking comments from the public on whether this change aligns with the Securities Exchange Act.

The Securities and Exchange Commission has received a proposal from Nasdaq PHLX LLC to allow FLEX Trading in options for the iShares Bitcoin Trust ETF (IBIT). This would enable these options to trade as both cash-settled and physically settled, with a consolidated limit of 25,000 contracts, which aims to prevent market manipulation and protect investors. The proposal is intended to broaden the range of available trading products and better manage investment risks in bitcoin-related products. Public comments are invited on whether this proposal aligns with the Securities Exchange Act's standards.

The Securities and Exchange Commission (SEC) has requested an extension from the Office of Management and Budget (OMB) for the ongoing collection of information under Rule 15c1-7, a provision of the Securities Exchange Act. This rule requires broker-dealers to keep records of transactions made with discretion over customer accounts to avoid fraudulent or deceptive practices. The SEC estimates the rule affects 362 broker-dealers, totaling around 400,000 transactions annually, with each record taking about five minutes to complete. Public comments on this request can be submitted through the website reginfo.gov or via email.

Nasdaq BX, Inc. has introduced a proposed rule change to establish fees for Industry Members to cover budgeted costs related to the Consolidated Audit Trail for 2025. This proposal has been filed with the Securities and Exchange Commission (SEC) and has been marked for immediate effectiveness. The SEC is seeking comments from the public on whether this change aligns with the Securities Exchange Act. Interested parties can submit their comments online or via mail by February 13, 2025.

The Securities and Exchange Commission (SEC) has introduced Rule 17Ad-24, which exempts certain activities of registered security-based swap dealers, execution facilities, and individuals engaged in minimal dealing activity from being classified as a "clearing agency" under the Securities Exchange Act. This exemption aims to prevent unnecessary regulatory overlaps and burdens, ensuring that only activities posing significant risks are subjected to clearing agency requirements. By doing so, the SEC seeks to foster efficiency, competition, and capital formation in the security-based swap market without compromising investor protection and financial stability.

The Securities and Exchange Commission (SEC) is seeking comments on the information collection for Rule 19h-1 under the Securities Exchange Act. This rule involves the process self-regulatory organizations follow when allowing individuals with misconduct records to continue or join the securities business. Public feedback is invited on the need for this information, its utility, the accuracy of the estimated time burden, and suggestions to enhance the data collection process. Comments should be submitted within 60 days of the publication date, by May 5, 2025.

The Options Clearing Corporation (OCC) proposed a rule to add a margin charge to all clearing member accounts to manage risks from short-dated trading activities. This proposal was initially submitted in July 2024 and has undergone multiple amendments to address concerns and include required information. The Securities and Exchange Commission (SEC) is taking extra time to review the proposal, extending its decision deadline to April 9, 2025, to ensure that all issues are carefully considered.

Cboe C2 Exchange, Inc. applied for an exemption from certain rule filing requirements of the Securities Exchange Act, allowing them to incorporate rules from the Cboe Exchange, Inc. without filing separate changes. This would help maintain consistency between Cboe C2 rules and Cboe rules, ensuring that members trading on both exchanges follow the same standards. The Securities and Exchange Commission (SEC) granted this exemption, provided that Cboe C2 notifies its members about any changes to the Cboe rules. The SEC believes this approach will save time and resources and protect investors by avoiding conflicting regulations.

The Securities and Exchange Commission has announced that the Cboe EDGA Exchange, Inc. has proposed a new rule regarding billing errors and fee disputes. Under this rule, all fees and rebates will be considered final after three calendar months. This change is designed to encourage members to review their billing statements promptly, ensuring that any errors are addressed quickly and reducing the administrative burden on the Exchange. The SEC is seeking comments from the public on this proposed change.

The Nasdaq Stock Market LLC submitted a proposal to the Securities and Exchange Commission (SEC) to change the rules for listing and trading the shares of the iShares Bitcoin Trust, allowing for in-kind creations and redemptions. After an amendment was added on February 4, 2025, the SEC decided to extend their review period to have more time to consider this proposal and any related issues. They have set a new deadline of May 13, 2025, to decide whether to approve, disapprove, or further investigate the proposed rule change. This extension gives the SEC more time to ensure they thoroughly evaluate the implications of the rule modification.