General Counsel
Tw Li

April 06, 2021

Is It the Forest or Is It the Trees?

CRS Reviews Role of "Payment for Order Flow" in Debate over "Zero Commissions"

Steven Lofchie

Commentary by Steven Lofchie

The Congressional Research Service reviewed the role that "payment for order flow" plays in the "surge in retail investor securities trading at major discount broker-dealers."

President Biden Revokes Executive Order Imposing Sanctions against ICC

President Joseph R. Biden revoked a June 11, 2020 Executive Order that declared a national emergency and imposed sanctions against persons associated with the International Criminal Court.

FINRA Proposes Extending Relief on Qualifying Exam Requirements

FINRA proposed extending relief on fulfilling the qualification examination requirements for operations professionals and supervisory principals.

DTC Proposes Amendments to Recovery and Wind-Down Plan

The Depository Trust Company filed with the SEC a proposed rule change to amend its recovery and wind-down plan.

OFAC Issues New FAQs on Syria-Related Sanctions

OFAC issued two new FAQs clarifying authorized activities under Syria-related sanctions.

SEC Disapproves Nasdaq Proposal to Remove Beneficial Holders Rule for Exchange-Traded Funds

The SEC disapproved a Nasdaq proposed rule change "to amend certain listing requirements relating to maintaining a minimum number of beneficial holders and minimum number of shares outstanding."

Also Covered

Reg. Tracker: April 1 to April 15

Reg. Tracker: April 1 to April 15

The Cabinet Regulatory Tracker is a list of effective dates, comment deadlines and compliance dates.