SEC Approves Proposed Plan for Allocation of Regulation Responsibilities between FINRA and MIAX (Fed. Reg.) (with Lofchie Comment)

An SEC order approving and declaring effective a proposed plan for the allocation of regulatory responsibilities between FINRA and the Miami International Securities Exchange, LLC ("MIAX") was published in the Federal Register.

Lofchie Comment: As FINRA has become the de facto "self-regulator" for virtually all of the exchanges, it is becoming less clear why the exchanges should continue to be viewed as regulatory organizations rather than purely as businesses.

See: 79 FR 70230.