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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2024-03-07T20:25:00
Lost in the shuffle of the approval of its controversial climate-related disclosure rule, the Securities and Exchange Commission (SEC) on Wednesday also adopted amendments to its rule for order executions in national market system (NMS) stocks.
The changes will expand the disclosure requirements under Rule 605 of Regulation NMS to include broker-dealers who carry 100,000 or more customer accounts, the SEC said in a fact sheet. Also amended was the definition of “covered order” to include certain orders submitted outside of regular trading hours, certain orders submitted with stop prices, and nonexempt short sale orders and new requirements for standardized monthly reports mandated by Rule 605.
The agency noted the fact the rule was adopted in 2000 and hadn’t been substantively updated since then as a driver behind the changes.
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2024-03-07T00:02:00Z By Aaron Nicodemus
The Securities and Exchange Commission finally approved its ground-breaking climate-related disclosure rule, nearly two years since it was originally proposed. Though the agency significantly watered down aspects of its proposal, the rule is already facing the prospect of legal challenge.
2024-03-06T18:51:00Z By Kyle Brasseur
Ameriprise Financial disclosed it recorded a $50 million accrual related to the resolution of a Securities and Exchange Commission probe into use of off-channel communications by its employees for conducting business.
2022-12-14T23:12:00Z By Aaron Nicodemus
The Securities and Exchange Commission proposed a series of rules that would change the way securities are sold in U.S. markets and create new disclosures for broker-dealers and others seeking to trade securities on behalf of retail investors.
2024-07-24T15:50:00Z By Aaron Nicodemus
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
2024-07-23T12:29:00Z By Ruth Prickett
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
2024-07-22T15:50:00Z By Aaron Nicodemus
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
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