SR-NASDAQ-2019-044 Order Approving a Proposed Rule Change to Allow an Odd Lot-Sized Order to Be Eligible for the Midpoint Extended Life Order
On May 20, 2019, Nasdaq filed with the Securities and Exchange Commission, pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) and Rule 19b-4 thereunder, a proposed rule change to allow an odd lot-sized order to be eligible for the Midpoint Extended Life Order (“MELO”). The proposed rule change was published for comment in the Federal Register on June 4, 2019. The Commission received no comment letters on the proposed rule change. This order approves the proposed rule change.
FINRA Trade Reporting Notice 7/19/19 FINRA Reminds Firms of Their Obligations Regarding TRACE Reporting
FINRA is issuing this Notice to remind members of their obligation to have systems or processes in place to determine whether a transaction in a TRACE-Eligible Security has occurred and is, therefore, reportable, even if it was not included on the TRACE security master list at the time of the transaction. In those circumstances, members should contact Market Operations to add the TRACE-Eligible Security to the security master list and report the transaction to TRACE.
FINRA Regulatory Notice 19-24 FINRA Encourages Firms to Notify FINRA if They Engage in Activities Related to Digital Assets
Last year, FINRA took several steps to engage with members regarding their current and planned activities relating to digital assets. These efforts included the issuance of Regulatory Notice 18-20, which encouraged firms to keep their Regulatory Coordinator informed if the firm, or its associated persons or affiliates, engaged, or intended to engage, in activities related to digital assets, including digital assets that are non-securities. Regulatory Notice 18-20 requested that firms provide these updates to Regulatory Coordinators until July 31, 2019. FINRA appreciates members’ cooperation over the past year and is encouraging firms to continue keeping their Regulatory Coordinators abreast of their activities related to digital assets until July 31, 2020.
Securities and Exchange Commission Release No. 34-86351 Order Granting Approval of a Proposed Rule Change to Amend NYSE Rule 123D
The Exchange has proposed to amend Rule 123D(d) to permit the Exchange to declare a regulatory halt in a security that traded in the over-the-counter market prior to the initial pricing on the Exchange.
FINRA Regulatory Notice 19-23 FINRA Supplements Prior Guidance on Credit for Extraordinary Cooperation
FINRA is issuing this Notice to restate and supplement prior guidance regarding the circumstances under which a firm or individual may influence the outcome of an investigation by demonstrating extraordinary cooperation. This Notice incorporates FINRA’s prior guidance and provides clarification and additional information about how FINRA assesses whether a potential respondent’s cooperation is “extraordinary” and distinct from the level of cooperation expected of all member firms and their associated persons.
FINRA Regulatory Notice 19-22 FINRA Requests Comment on a Proposal to Publish ATS Volume Data for Corporate Bonds and Agency Debt Securities on FINRA’s Website
FINRA requests comment on a proposal to expand the alternative trading system (ATS) volume data that it publishes on its website to include information on transactions in corporate bonds and agency debt securities that occur within an ATS and are reported to FINRA’s Trade Reporting and Compliance Engine (TRACE).
Pursuant to FINRA Rule 4210(f)(8)(A), FINRA is establishing higher strategybased margin requirements for exchange-traded notes (ETNs) and options on ETNs in light of the complex nature of these products. The new requirements for initial and maintenance margin are detailed in the regulatory notice. In addition, FINRA is clarifying that ETNs and options on ETNs are not eligible for portfolio margining under FINRA Rule 4210(g).
MSRB Regulatory Notice 19-15 SEC Approves Amendments to MSRB Rules and Data Collection Related to Primary Offering Practices
The MSRB received approval from the SEC on June 27, 2019 of amendments to MSRB Rule G-11, on primary offering practices, MSRB Rule G-32, on disclosures in connection with primary offerings and MSRB Form G-32, regarding a collection of data elements provided in electronic format to the Electronic Municipal Market Access Dataport (the “EMMA® Dataport”) system in connection with primary offerings.
SEC Release No. 34-86246 Order Granting Approval of a Proposed Rule Change to Adopt Additional Requirements for Listings in Connection with an Offering Under Regulation A of the Securities Act
The Exchange proposed to adopt a new initial listing requirement for companies listing on the Exchange in connection with an offering under Regulation A of the Securities Act. Specifically, the Exchange proposed to require any company listing on the Exchange in connection with an offering under Regulation A to have a minimum operating history of two years at the time of approval of its initial listing application.
SEC Release No. 34-86175 Capital, Margin, and Segregation Requirements for Security-Based Swap Dealers and Major Security-Based Swap Participants and Capital and Segregation Requirements for Broker-Dealers
In accordance with the Dodd-Frank Act, the SEC, pursuant to the Securities Exchange Act of 1934 (“Exchange Act”), is adopting capital and margin requirements for security-based swap dealers (“SBSDs”) and major security-based swap participants (“MSBSPs”), segregation requirements for SBSDs, and notification requirements with respect to segregation for SBSDs and MSBSPs. The Commission also is increasing the minimum net capital requirements for broker-dealers authorized to use internal models to compute net capital (“A NC broker-dealers”), and prescribing certain capital and segregation requirements for broker-dealers that are not SBSDs to the extent they engage in security-basedswap and swap activity. The Commission also is making substituted compliance available with respect to capital and margin requirements under Section 15F of the Exchange Act and the rules thereunder and adopting a rule that specifies when a foreign SBSD or foreign MSBSP need not comply with the segregation requirements of Section 3E of the Exchange Act and the rules thereunder.
- Industry News
- By Date
- By Topic
- Register for Email Alerts
- Subscribe to RSS Feeds