The U.S. Court of Appeals for the District of Columbia Circuit granted a petition for review and vacated an SEC Rule and related pilot program designed to test the effects of certain fees and rebate pricing models on the market.
FINRA proposed extending the effective date of temporary amendments to provide the FINRA staff with short-term relief from certain enforcement and other procedural requirements while operations are impacted by COVID-19.
FINRA and the national securities exchanges participating in the National Market System Plan Governing the Consolidated Audit Trail amended a previous request to the SEC for exemptive relief from certain reporting requirements.
FINRA leadership warned of potential financial impacts of COVID-19 not included in its 2020 operating budget and anticipated future regulatory fee increases once excess reserves reach "minimum targeted reserve levels."
The New York State Department of Financial Services provided temporary relief to consumers and businesses from making premium payments to life insurance companies, property and casualty insurers, and premium finance agencies.
The MSRB solicited volunteers to serve on a Market Transparency Advisory Group. The Group is being formed to modernize and improve the Electronic Municipal Market Access ("EMMA ® ") platform and other market transparency systems.