Search Results for keywords:"financial regulation"

The Financial Industry Regulatory Authority, Inc. (FINRA) has proposed a new rule to update fees under FINRA Rule 6897 related to the National Market System Plan's Consolidated Audit Trail for 2025. The updated fee, termed "CAT Fee 2025-1," will be $0.000022 per executed equivalent share. This fee adjustment aims to cover approximately half of the planned costs for 2025 and will replace the existing fee rate of $0.000035. The rule change is effective immediately and seeks public comments on its consistency with the Securities Exchange Act of 1934.

The Securities and Exchange Commission (SEC) is requesting an extension of approval from the Office of Management and Budget (OMB) for a rule relating to money market funds. This rule, called Rule 22e-3, permits these funds to suspend redemptions temporarily to allow for an orderly liquidation. According to the SEC, the process of notifying them about such suspensions has a minimal time requirement, estimated at one hour annually at a cost of $511. Public comments on this request are encouraged and should be submitted by April 3, 2025.

Cboe EDGX Exchange, Inc. has announced a proposed rule change to increase the monthly fee for 10 Gb physical port connections from $7,500 to $8,500. The increase is intended to keep the fees in line with inflation and the costs the exchange incurs to maintain and improve its technology and services. This fee applies uniformly to all market participants who use these high-capacity connections, and it remains lower than similar fees charged by other exchanges. The change is justified by enhancements made to the exchange's services, which have benefited users by improving the capacity and speed of data processing.

The Securities and Exchange Commission has received a proposed rule change from The Nasdaq Stock Market LLC. This change would allow for a new trading halt feature for Exchange-Traded Products (ETPs) on their launch day, similar to the process used for IPOs. The proposed rule is designed to aid efficient price discovery and protect against unexpected volatility by enabling the ETP issuer to halt trading for a specified period before manually opening it. Nasdaq aims to implement this new feature by the second quarter of 2025.

The Securities and Exchange Commission has announced a rule change proposed by The Nasdaq Stock Market LLC. This change involves modifying the Options Regulatory Fee (ORF) by decreasing it from $0.0016 to $0.0014 per contract side, starting from November 1, 2024, until December 31, 2024, to ensure that the revenue from this fee does not exceed the costs associated with regulatory responsibilities. From January 1, 2025, Nasdaq plans to introduce a new method of assessing ORF, which will exclude proprietary product transactions and focus on clearing transactions across various participant types, while adopting different rates for trades executed on Nasdaq and non-Nasdaq exchanges. This new approach aims to cover a material portion of regulatory costs without generating excessive revenue and is set to conclude on July 1, 2025, when the original rates and structure will be reinstated unless further reviewed.

In a notice published by the Securities and Exchange Commission, the MIAX PEARL, LLC proposed a change to its rules to allow the listing and trading of options on the iShares Ethereum Trust. This change is intended to give investors a more cost-effective way to invest in Ether, a type of cryptocurrency, without directly owning it. The rule change aligns with similar approvals from other exchanges and aims to enhance the tools available to investors for managing their investment portfolios. The proposal has been filed to encourage comments from the public and does not impose significant burdens on competition or investor protection.

The Federal Housing Finance Agency (FHFA) has announced an adjustment to the cap on average total assets to determine if a Federal Home Loan Bank member qualifies as a "community financial institution" (CFI). This cap has been set at $1.5 billion, reflecting a 2.7% increase based on changes in the Consumer Price Index for all urban consumers (CPI-U) from November 2023 to November 2024. This adjustment, effective from January 1, 2025, allows CFI status to be determined using unadjusted CPI-U data, as it is less prone to revisions than adjusted data.

The Cboe BZX Exchange, Inc. has proposed a rule change to the Securities and Exchange Commission (SEC) to amend its fee structure for listing certain financial products called Outcome Strategy Exchange-Traded Products (ETPs). This change involves expanding the annual listing fee cap, now $16,000 per year, to include ETPs that base their returns on the performance of more than one reference index. The proposal aims to make listing costs more affordable and to encourage more issuers to list or transfer their ETPs to the Exchange, thereby fostering competition. The SEC is inviting public comments on this proposal before it makes a final decision.

The Securities and Exchange Commission (SEC) received a proposed rule change from MIAX PEARL, LLC, to allow trading options on three Ethereum-related funds: the Grayscale Ethereum Trust, the Grayscale Ethereum Mini Trust, and the Bitwise Ethereum ETF. This proposal comes as a response to similar competitive offerings approved by the NYSE American. MIAX Pearl argues that these changes will offer investors a lower-cost tool for managing risks and gaining exposure to Ethereum prices. The SEC aims to ensure this new trading option is in line with its rules designed to prevent fraud and maintain fair trading practices.

The Financial Industry Regulatory Authority, Inc. (FINRA) proposed a rule change to its compliance rules to align with an exemption granted by the Securities and Exchange Commission (SEC). This amendment focuses on allocation reporting requirements related to trading activities. Under the proposed changes, brokers who actually perform allocations will be responsible for reporting these activities to a central repository, rather than brokers who do not have this information. This change aims to reduce the reporting burden on brokers while still providing regulators with necessary information to oversee market trades. The amendment is intended to improve efficiency without imposing additional costs on industry members.