Trade associations and state regulators offered several recommendations on the SEC proposal to "tighten" the requirements that broker-dealers must meet before being permitted to post public quotations on OTC securities.
An SEC proposal to tighten the requirements that broker-dealers must meet before being permitted to post public quotations on OTC securities was published in the Federal Register.
The SEC proposed rule amendments that would tighten the requirements that broker-dealers must meet before being permitted to post public quotations on OTC securities.
SEC Office of Compliance Inspections and Examinations Director Peter Driscoll urged firms to establish and maintain strong compliance programs that address AML, microcap securities, paying agents and cybersecurity.
SEC Chair Jay Clayton and Director of Division of Trading and Markets Brett Redfearn addressed issues concerning "thinly traded securities," retail fraud, and market data and access.
The SEC granted a limited exemption from certain due diligence requirements, to permit a broker-dealer to publish, or submit for publication, quotations in an interdealer quotation systems for an over the counter security.
The SEC held a meeting of its Advisory Committee on Small and Emerging Companies (the "Committee"). Regulators discussed ways to increase opportunities for investors in small and emerging companies to resell their shares (a process known as "secondary market liquidity"). The Committee also...
FINRA announced that it is soliciting comments on a proposal to make a repository of Form 211 filings publicly available through FINRA's website. Firms are required to complete FINRA's Form 211 to demonstrate compliance with the specific information review requirements under Exchange Act Rule 15c2-...
FINRA issued a regulatory notice to alert firms and associated persons of FINRA Rule 5250 ("Payments for Market Making"), which prohibits accepting payments for market making. Also, FINRA announced a new requirement under Rule 6432 ("Compliance with the Information Requirements of SEA Rule 15c2-11...
FINRA filed with the SEC an immediately effective rule that amends FINRA Rule 6432 ("Compliance with the Information Requirements of SEA Rule 15c2-11") to require members to certify that they have not accepted and will not accept any payment or other consideration for market-making from issuers and...
FINRA filed with the SEC a proposed rule change to amend FINRA Rule 6432 ("Compliance with the Information Requirements of SEA Rule 15c2-11"). The amendments would require members to certify that they will not accept any payment or other consideration for market-making from issuers and related...
