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The SECs Fixed Income Market Structure Advisory Committee Approves Two New Recommendations

The Securities and Exchange Commission’s (SEC) Fixed Income Market Structure Advisory Committee (FIMSAC) held its latest meeting on February 10, 2020. The SEC formed FIMSAC to provide advice to the SEC on the efficiency and...more

FINRA Introduces Two Fixed Income Initiatives

The Financial Industry Regulatory Authority, Inc. (FINRA) introduced two new initiatives related to the fixed income markets. FINRA proposed to establish a central depository for the public dissemination of new issue...more

SEC Adopts Significant Changes to Regulation ATS

On July 18, 2018, the Securities and Exchange Commission (SEC or Commission) voted unanimously to adopt significant amendments to Regulation ATS (Reg ATS). The amendments, which impose heightened public disclosure...more

Change and Continuity in Securities Regulation

The election of Donald Trump as the next President and the continued Republican control of Congress raise questions as to what changes may be expected at the Securities and Exchange Commission (SEC or Commission) and what may...more

SEC's Equity Market Structure Advisory Committee Considers an Access Fee Pilot and Changes to the Regulation of Trading Venues

On April 26, 2016, the Equity Market Structure Advisory Committee (EMSAC or Committee) held its fourth meeting at the Securities and Exchange Commission (Commission or SEC) in Washington DC. The Committee is considering...more

Registration of Associated Persons with Algorithmic Trading Responsibilities

On April 7, 2016, the Securities and Exchange Commission (“SEC”) approved the Financial Industry Regulatory Authority's (“FINRA”) proposal to amend NASD Rule 1032 (Categories of Representative Registration) to require...more

SEC's Equity Market Structure Advisory Committee Considers Market Volatility and Customer Issues

The Equity Market Structure Advisory Committee (EMSAC or Committee) held its third meeting at the Securities and Exchange Commission (Commission or SEC) in Washington DC on February 2, 2016. The Committee is considering...more

SEC Proposes Significant Regulatory Changes for Alternative Trading Systems

On November 18, 2015, the Securities and Exchange Commission (“SEC” or “Commission”) proposed significant changes to the regulatory requirements applicable to dark pools and other alternative trading systems (“ATSs”) that...more

Access Fees and Regulatory Structure of Trading Venues

On October 27, 2015, the Equity Market Structure Advisory Committee (EMSAC or Committee) held its second meeting at the Securities and Exchange Commission (Commission or SEC) in Washington DC. The Committee is considering...more

A Bold New Regulatory Landscape for Research: SEC Approves FINRA Rules Addressing Conflicts of Interest for Equity and Debt...

More than ten years after the Global Research Settlement and the adoption of NASD Rule 2711, the Securities and Exchange Commission (SEC or Commission) has approve new FINRA rules addressing conflicts of interest for both...more

SEC Equity Market Structure Advisory Committee: Assessing Complexity in the U.S. Equity Markets

On May 13, 2015, the Equity Market Structure Advisory Committee (the “EMSAC” or “Committee”) held its inaugural meeting (the “Inaugural Meeting”) at the Securities and Exchange Commission (the “Commission” or “SEC”) in...more

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