Search Results for citation:"86 FR 3217"

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Search Results: citation:"86 FR 3217"

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  • 2021-00732 — Submission for OMB Review; Comment Request
    Type:Notice
    Citation:86 FR 3217
    Reading Time:about a minute or two

    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.

    Simple Explanation

    The SEC wants permission from a government office, called the OMB, to keep asking about 181 businesses that help people buy and sell stocks. These businesses need to tell people about certain special connections when trading, and it takes them a lot of time every year to do this.

  • 2021-00591 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing of Proposed Rule Change To Modify Phlx Options 8, Section 26, “Trading Halts, Business Continuity and Disaster Recovery”
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    Type:Notice
    Citation:86 FR 3217
    Reading Time:about 42 minutes

    The Securities and Exchange Commission has issued a notice about a proposed rule change by Nasdaq PHLX LLC. The change allows for a "Virtual Trading Crowd" to operate when their physical trading floor is unavailable. This proposal, influenced by COVID-19, aims to ensure that trading can continue in a virtual environment similar to in-person open outcry trading. It includes measures for communication and security to maintain the integrity and smooth operation of the trading system.

    Simple Explanation

    Imagine a group of people who love to trade things with each other. They usually meet in a special place to do this, but because of something like a big sneeze that's happening everywhere, they can't meet there anymore. So, they want to meet online to trade, just like a video game chat, and they're making sure it's safe and fair for everyone who joins in.