SEC Chair Clayton Highlights FIMSAC Regulatory Recommendations

In a meeting of the Fixed Income Market Structure Advisory Committee ("FIMSAC" or the "Committee"), SEC Chair Jay Clayton expressed support for the consideration of a recommendation from the Technology and Electronic Trading Subcommittee "to better understand electronic trading volumes in our corporate bond and municipal securities markets."

Mr. Clayton also highlighted recent regulatory efforts that have benefited from the Committee's recommendations, including:

• an SEC concept release on the electronic corporate bond and municipal securities markets that solicited public comment on the regulatory framework for electronic trading (see previous coverage); and

• FINRA regulatory notices regarding "pennying" and TRACE reporting (see here and here for previous coverage).