Regulation ATS 17 CFR 242.300 Preliminary Note Note Rule 300 Definitions Rule 300 Rule 301 Certifications - Public Appearances Rule 301 Rule 302 Requirements for Alternative Trading Systems Rule 302 Rule 303 Record Preservation Requirements Rule 303 Other SEC Rules Rule 3a1-1 [more...]
Summary Two types of clearing agencies Clearing corporations and depositories Self-regulatory organizations Required to register with the SEC Clearing corporations Compare member transactions (or report to members the results of comparison operations) Clear those trades Prepare instructions for automated settlement Act as intermediaries in making [more...]
Summary SEC rules provide for alternative regulatory scheme OTC derivatives dealers are treated as a special class of broker-dealers, per 1998 SEC rule changes Exempt from specified broker-dealer requirements: Membership in a self-regulatory organization Rule 15b9-2 Regular broker-dealer margin rules Rule 36a1-1 Securities Investor Protection Act [more...]
Statute Exchange Act § 11(a) Text of Statute SEC Rules Rule 11a-1 Regulation of Floor Trading 11a-1 29 FR 7381, June 6, 1964 62 FR 520, 544, Jan, 3, 1997 Rule 11a1-1(T) Priority, Parity, and Precedence 11a1-1(T) 43 FR 11553, Mar. 17, 1978 43 FR 18562, May 1, 1978 44 FR 6093, Jan. 31, 1979 [more...]
Summary Four interrelated SEC initiatives to modernize the regulatory structure of the U.S. equity markets New Order Protection Rule Facilitate use of automated quotations to obtain the best price for investors New Access Rule Promotes fair and non-discriminatory access to quotations displayed by NMS trading centers New Sub-Penny Rule [more...]
Statute Exchange Act § 11(b) Text of Statute SEC Rules Rule 11b-1 Regulation of Specialists 11b-1 29 FR 15863 11.26.64 46 FR 15135 3.04.81
Summary Transfer agents stand between issuing companies and security holders in order to: Record changes of ownership Maintain the issuer's security holder records Cancel and issue certificates Distribute dividends SEC webpage Developments SEC proposes to require electronic filing of forms SEC release 33-54356 8.24.06 [more...]
Summary Unlisted trading privileges ("UTP") Rights granted to securities exchanges to trade securities listed on another exchange Per Exchange Act § 12(f) Amended by the Unlisted Trading Privileges Act of 1994 1936 amendment required application to, and approval by, the SEC SEC routinely granted approval, even over issuer [more...]