Search Results for keywords:"Director's Order

Jesse Rodriguez was convicted in 2019 for illegally handling and selling ammunition classified as defense articles. As a result, the Bureau of Industry and Security (BIS) has revoked his export privileges for five years, effective until January 16, 2024. This order prohibits Rodriguez from participating in any export-related activities, and it also cautions others against aiding him in such activities. Rodriguez has the option to appeal this decision within 45 days.

The Securities and Exchange Commission (SEC) approved changes proposed by ICE Clear Credit LLC (ICC) to its Treasury Operations Policies and Procedures. These changes aim to improve the clarity and accuracy of the Treasury Policy by adding details, correcting errors, and aligning it with current practices. Key revisions include new criteria for settlement banks to provide liquidity information and updates to investment guidelines for better flexibility and security. These amendments are designed to enhance the efficiency and safeguarding of financial transactions handled by ICC.

The Securities and Exchange Commission (SEC) approved a proposed rule change by the Cboe Exchange, Inc., which was amended twice. The rule change allows Cboe to impose a maximum size requirement of ten contracts for agency orders in SPX options during Regular Trading Hours (RTH) on its Automated Price Improvement Mechanisms (AIM and C-AIM). The decision was made based on data showing that smaller orders, between one to ten contracts, benefited most from these electronic auctions in terms of price improvements, compared to larger orders. This measure is expected to enhance retail customer participation and provide better execution opportunities for these smaller orders.

The Investors Exchange LLC (IEX) has filed a proposed rule change with the Securities and Exchange Commission (SEC) on April 23, 2025, to modify how "Post Only" orders operate. The change will make such orders only execute upon entry if they receive at least $0.01 in price improvement. This new rule aims to encourage more displayed liquidity on the exchange and bring IEX's operations in line with other exchanges like Nasdaq and NYSE Arca. The SEC has fast-tracked the proposal, believing it doesn't pose new issues, and invites public comments on it by May 28, 2025.

The Financial Crimes Enforcement Network (FinCEN), part of the U.S. Treasury Department, has issued a Geographic Targeting Order for certain money services businesses along the southwest border of the U.S. These businesses must report currency transactions of more than $200 but not more than $10,000 and verify the identity of those making these transactions. The order, effective from April 14, 2025, to September 9, 2025, covers specific areas in California and Texas and aims to combat illegal financial activities by drug cartels. Failure to comply with this order could result in civil or criminal penalties.

The U.S. Department of Commerce has revoked the export privileges of Issam Hamade for 10 years, until April 27, 2030, due to his conviction for conspiracy to export parts and technology to Lebanon without the necessary licenses. This conviction was connected to the illegal export of technology potentially used in unmanned aerial vehicles for Hizballah. Under this order, Hamade and anyone acting on his behalf are prohibited from engaging in transactions involving items subject to export regulations. Hamade is also given the right to appeal the decision within 45 days.

Nasdaq PHLX LLC has filed a proposed rule change with the Securities and Exchange Commission to update its complex order functionality to match that of ISE and MRX, focusing on technology enhancements for better performance and scalability. The proposed updates include adopting the same Legging Order and Complex Order functionalities and new risk protections, aligning rules across the different exchanges to offer a unified experience to market participants. The proposal also includes updates to definitions and order types for complex strategies and aims to limit potential disruptions during times of extreme market volatility, ensuring fair and orderly trading markets.

The Securities and Exchange Commission has issued a notice about a proposed rule change by NYSE Arca, Inc. This rule aims to replace the Discretionary Pegged Order with a new order type called the Selective Midpoint Order (SeMi Order). The SeMi Order will use a machine-learning model to improve price protection during volatile market conditions. This proposed change seeks to enhance the flexibility and functionality of trading strategies for market participants while maintaining fair and open market practices.

The Securities and Exchange Commission (SEC) has approved the application of MX2 LLC to become a national securities exchange. MX2 will operate similarly to the existing MEMX exchange but will not list new securities; instead, it will trade existing ones through unlisted trading privileges. The exchange will use automated systems with no physical trading floor and partner with the Financial Industry Regulatory Authority (FINRA) for regulatory functions. Several conditions accompany this approval, including joining specific national market system plans and forming regulatory agreements.

The Securities and Exchange Commission (SEC) has approved amendments to the National Market System Plan, which manages the Consolidated Audit Trail (CAT) to implement cost-saving measures. Key changes allow switching certain data related to options market maker quotes to less costly storage, minimize processing requirements, and permit the deletion of industry test data after three months instead of retaining it for longer. These changes aim to reduce operational costs significantly, with estimates suggesting savings of approximately $21 million in the first year. While this may slightly reduce some regulatory efficiency in terms of data access and processing, regulators will still have access to the necessary data through alternative methods.