An SEC final rule expanding the definition of "broker-dealer" under the Securities Exchange Act was published in the Federal Register.
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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 or as government securities broker-dealers under the Securities Exchange Act.
The SEC adopted two new rules under the Securities Exchange Act to further define the term "as a part of a regular business." The new rules expand the scope of firms that are required to register as broker-dealers and as government securities broker-dealers.
The Inter-Agency Working Group for Treasury Market Surveillance reported progress on efforts to ensure that the Treasury market "remains the deepest and most liquid market in the world and a central component of the financial system."
The Financial Stability Oversight Council finalized interpretive guidance and an analytical framework for designating nonbank financial companies for regulation.