Search Results for keywords:"Minor Rule Violation Plan"

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Search Results: keywords:"Minor Rule Violation Plan"

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  • 2024-29472 — Self-Regulatory Organizations; MIAX Sapphire, LLC; Order Declaring Effective a Minor Rule Violation Plan
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    Type:Notice
    Citation:89 FR 101678
    Reading Time:about 6 minutes

    MIAX Sapphire, LLC, an exchange, filed a Minor Rule Violation Plan (MRVP) with the Securities and Exchange Commission. This plan allows the exchange to handle minor rule violations internally, imposing fines up to $2,500 without needing formal disciplinary proceedings, provided they report these violations to the Commission quarterly. The Commission approved this plan, stating it supports efficient enforcement while maintaining compliance with important regulations. The MRVP includes certain rule violations that don't warrant formal proceedings, giving MIAX Sapphire flexibility in its enforcement actions.

    Simple Explanation

    Imagine a club where, if someone does something small and wrong, they don't get into huge trouble. Instead, the club can give them a small timeout or fine so everyone can play fair. MIAX, a group that helps people trade stocks, has a rule like this. The people in charge said, "Yep, that's okay," because it helps keep things running smoothly and fair.

  • 2024-28255 — Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of Filing of Proposed Minor Rule Violation Plan
    💰
    Type:Notice
    Citation:89 FR 95833
    Reading Time:about 6 minutes

    MIAX Emerald, LLC has submitted a proposal to the Securities and Exchange Commission (SEC) to create a Minor Rule Violation Plan (MRVP). This plan would allow certain minor rule violations to be punished with fines up to $2,500 and would not require immediate reporting to the SEC, as long as summary reports are sent quarterly. This proposal excludes some conduct policies and aims to make handling minor infractions more efficient. The public is invited to comment on the proposal, and the SEC will decide on its approval by December 24, 2024.

    Simple Explanation

    MIAX Emerald wants to have a new plan where small rule breakings get a small fine, like a parking ticket, without telling the big boss unless they happen a lot. But people are worried because it's not clear which rules are small or why some rules aren't included.