The securities industry will take a major step toward nearly round-the-clock trading in September when the company 24 Exchange launches the first stage of the 24X National Exchange on September 29, offering trading of U.S. equities from 4:00 a.m. to 8:00 p.m. ET on weekdays. The new 24X National Exchange will initially serve “the growing demand for overnight… Read More >>
Key Groups Challenge SEC’s Cyberattack Disclosure Processes
Key securities industry trade associations are challenging the disclosure procedures of a cybersecurity rule adopted in 2023 by the U.S. Securities and Exchange Commission (SEC), asking the regulator to return to a principles-based disclosure regime. SIFMA, the American Bankers Association (ABA), the Bank Policy Institute (BPI), the Independent Community Bankers of America (ICBA), and the… Read More >>
FINRA Approves Broker-Dealer ‘Hidden Road Partners’
A global credit network for institutions, Hidden Road, reports that its wholly-owned subsidiary, Hidden Road Partners CIV US LLC, can operate as a member broker-dealer of the self-regulatory organization (SRO) the Financial Industry Regulatory Authority (FINRA), which oversees U.S. brokers. FINRA’s approval “enables Hidden Road to expand its recently launched fixed income prime brokerage platform,… Read More >>
Paul Atkins Will Drive a New Era for the SEC
Earlier this month, the U.S. Senate confirmed Paul Atkins as the new chairman of the Securities and Exchange Commission (SEC) by a 52-to-44 vote that enables Atkins to finish the remainder of former SEC Chair Gary Gensler’s term, which expires June 5, 2026. (Atkins was officially sworn in on April 21 and can stay onboard… Read More >>
SEC Won’t Defend Climate Disclosure Rule in Court
The Securities and Exchange Commission (SEC) took a major step toward ending its highly controversial set of Biden-era requirements, “The Enhancement and Standardization of Climate-Related Disclosures for Investors,” that compel SEC registrants to report detailed information about climate-related risks that investors and securities firms would then use to guide investment strategies and operations. Led by… Read More >>
SEC Roundtables Take On Crypto & A.I.
The SEC is hosting key industry roundtables this month – one will be a series of roundtables on the regulation of cryptocurrencies, and the other will be a one-day event on the governance of artificial intelligence (A.I.). The SEC’s newly formed Crypto Task Force “will host a series of roundtables to discuss key areas of… Read More >>
The Treasury Clearing Reprieve Could Prevent Pitfalls
The SEC’s decision to move key deadlines for its own rule requiring centralized clearing for U.S. Treasuries and Treasury-backed repurchase contracts that were formerly cleared bilaterally has been met with approval by major industry participants. However, major market players acknowledge that the industry needs a breather to catch up to the regulator’s requirements. In particular,… Read More >>
SEC & CFTC Prioritize Crypto Regs Creation
The Securities and Exchange Commission and the Commodity Futures Trading Commission (CFTC) are following up on their recent announcements to move quickly on cryptocurrency regulation just as industry providers are getting on the crypto train. The SEC is offering more details about the mission of its special Crypto Task Force and the CFTC will be… Read More >>
Is the SEC Defanging or Protecting the CAT?
Is the Securities and Exchange Commission (SEC) undercutting or protecting the Consolidated Audit Trail (CAT) through a new exemption that would allow “natural persons” to sidestep supplying “certain personally identifiable information (PII)” such as names, addresses, and years of birth? CAT is an ambitious and controversial big data, U.S. securities transaction monitoring project that has… Read More >>
SEC & CFTC Extend Deadline for Form PF Amendments
Sometimes it pays to fight City Hall especially when there’s a new City Hall. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) – now both under the control of the Trump administration — last week extended a controversial compliance date for the amendments to Form PF from March 12, 2025,… Read More >>
