New SRO rules and rule proposals were announced by the SEC. Click on the links to view the SEC's notices of exchange rule changes and proposals for the week of May 16 - May 20.

In a unanimous opinion, the Supreme Court resolved the question of whether or not claims that are brought under state law, but allege conduct that would violate the securities laws, must be heard exclusively in federal court.

FINRA proposed amendments to FINRA Rule 6433 to extend the Tier Size Pilot, which is currently scheduled to expire on June 10, 2016, until December 9, 2016, to provide additional time for FINRA to finalize its Tier Size Pilot.

Members of an SEC Advisory Committee on Small and Emerging Companies agreed that the financial threshold in determining who qualifies as an accredited investor should remain at the current level.

House Subcommittees on Capital Markets and Government Sponsored Enterprises examined three legislative proposals intended to enhance capital formation, transparency and regulatory accountability.