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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.

The NYSE Arca, Inc. has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to amend Rule 2.4. This amendment aims to clarify the procedures for broker-dealers involved in a statutory disqualification, allowing them to become or remain members of the exchange. The proposal seeks to bring NYSE Arca's rules in line with other exchanges and the SEC's guidelines, ensuring a consistent approach. The SEC has quickly approved the rule change to address an urgent situation where a firm facing disqualification is applying for membership during its relief process.

The Securities and Exchange Commission (SEC) is seeking approval from the Office of Management and Budget (OMB) to extend an existing requirement for record-keeping under Rule 303 of Regulation ATS, which governs alternative trading systems (ATSs). Regulation ATS requires ATSs that register as broker-dealers to maintain certain records to ensure regulatory compliance. These records help regulatory bodies monitor ATSs and promote fair and orderly markets. The SEC estimates that ATSs will spend an average of 1,607 hours annually maintaining these records. The public can comment on this request by emailing or visiting a provided website by March 3, 2025.

The Securities and Exchange Commission (SEC) has submitted a request to the Office of Management and Budget (OMB) to extend approval for collecting information under Rule 15c1-5. This rule requires broker-dealers with control relationships to their issuers to notify customers in writing when selling or buying securities. The SEC estimates that around 181 broker-dealers must comply annually, spending a total of about 1,810 hours. People interested in commenting on this information collection can do so within 30 days on the reginfo.gov website.

The Securities and Exchange Commission (SEC) has announced that Nasdaq MRX, LLC, is planning to stop offering two specific types of trading orders: Qualified Contingent Cross (QCC) with Stock Orders and Complex QCC with Stock Orders. These orders were used by members to automatically handle the stock portion of certain complex trades. However, these functionalities were never actually used, so Nasdaq MRX will remove them, allowing members to still conduct similar trades but with the responsibility of handling the stock part themselves. The change is expected to take effect by February 15, 2025, and the SEC has fast-tracked the approval process to support Nasdaq MRX's efficient operation.

The Securities and Exchange Commission (SEC) is requesting approval from the Office of Management and Budget (OMB) to extend the information collection related to an exemption for certain transactions in money market funds. This exemption, issued in 2015, allows broker-dealers to send transaction information to investors on a monthly basis instead of immediately, in specific cases. As of the end of 2023, around 206 broker-dealers would need to provide these notifications, and the SEC estimates this will only require about 1.8 hours of work per broker-dealer each year. The public is invited to comment on this request by March 31, 2025.

The Securities and Exchange Commission issued a notice about a proposed rule change by MIAX PEARL, LLC, which plans to amend Exchange Rule 200. This change will allow more broker-dealers to become Trading Permit holders by requiring membership in any national securities exchange rather than just options exchanges. The rule change aims to align MIAX PEARL's membership requirements with those of other exchanges, making it easier for broker-dealers to join while maintaining regulatory standards. The proposal has been made effective immediately to expand broker-dealer eligibility without delay, although the Commission reserves the right to suspend the change within 60 days if necessary.

The NYSE American LLC has proposed a rule change to Rule 342, addressing membership processes for broker-dealers facing statutory disqualification. The change aims to clarify the procedures for such firms to become or remain members of the Exchange if they are undergoing a statutory disqualification review by another self-regulatory organization (SRO). This proposal seeks to align NYSE American's rules with other exchanges and SEC guidelines, ensuring a consistent approach while safeguarding investors and public interests. The Exchange has requested an immediate effect from filing to handle an ongoing case promptly.

The Securities and Exchange Commission (SEC) has issued a statement and is seeking public comments on the safekeeping of digital asset securities by broker-dealers. They highlight the need for innovation in applying existing protection rules to digital assets, which have unique risks like fraud and theft. The SEC proposes a five-year period during which broker-dealers who follow specific guidelines won't face enforcement action if they can show they've taken reasonable steps to control and secure digital asset securities. This initiative aims to balance investor safety with the advancement of the digital asset market.

The Securities and Exchange Commission (SEC) has requested approval from the Office of Management and Budget (OMB) to extend the information collection requirements under Rule 606 of Regulation NMS. Rule 606 mandates that broker-dealers disclose certain information about their order routing practices to ensure transparency, particularly regarding stocks and options. The SEC estimates that compliance with this rule involves a significant annual time burden of 183,000 hours and an annual cost burden of $1,300,000 across the industry. The public is invited to comment on this request by February 18, 2025.