Regulatory Intelligence Commentary: SEC Expands Broker-Dealer Registration Requirement

The SEC adopted two new rules requiring certain market participants that "play an increasingly significant liquidity providing role," to register with the SEC as broker-dealers pursuant to SEA Section 15 ("Registration and regulation of brokers and dealers") or as government securities broker-dealers pursuant to SEA Section 15C ("Government securities brokers and dealers").

Please click here for an in-depth Memorandum reviewing the new rules.

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