Search Results for keywords:"statutory disqualification"

The Securities and Exchange Commission has published a notice regarding a proposed rule change filed by NYSE National, Inc. This change aims to clarify the process for a broker-dealer, which may be subject to a statutory disqualification, to become or remain an ETP Holder on the Exchange. The proposed amendments will align NYSE National’s rules with those of other exchanges and SEC regulations, ensuring a consistent process when dealing with statutory disqualifications. The notice invites public comments on this proposal, which seeks to improve transparency and efficiency in membership applications affected by such disqualifications.

The Securities and Exchange Commission has announced that the NYSE Chicago, Inc. filed a proposed change to its rules on December 3, 2024. This change aims to clarify how a broker-dealer can become or stay a member of the Exchange even if they have a statutory disqualification. The proposed amendments align NYSE Chicago's rules with those of other exchanges and SEC regulations, focusing on maintaining fairness and investor protection while allowing organizations time to seek resolution for disqualifications. The change will become effective without a 30-day waiting period, as the SEC considers it necessary for an ongoing urgent situation involving a firm currently seeking relief from such a disqualification.

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 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 Investors Exchange LLC (IEX) has filed a proposed rule change with the Securities and Exchange Commission (SEC) to amend its rules regarding broker-dealers who are subject to a statutory disqualification but wish to become or remain members of the Exchange. This amendment aims to clarify the process and align IEX's rules with those of other exchanges, such as Cboe and BOX, and with SEC regulations. The proposed rule would allow IEX to approve membership applications for the brokers while proceedings with other self-regulatory organizations are ongoing. This change seeks to avoid confusion among members and ensure the process is consistent and fair, protecting investors and the public interest.

The New York Stock Exchange (NYSE) has proposed amendments to Rule 346, which outlines the process by which a broker-dealer can remain a member even if they are subject to a statutory disqualification. This change aims to align NYSE rules with those of other exchanges and clarify procedures in situations where membership applications involve such disqualifications. The SEC must review this proposal, which includes a provision for immediate effect to address a time-sensitive case. The public is invited to comment on these proposed changes.

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.