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Sep 27, 2024 | 
jdsupra.com | Ignacio A. Sandoval
The SEC voted unanimously to adopt changes to Regulation NMS (Reg. NMS) that address minimum pricing increments for securities, the access fees that securities exchanges charge, and increased transparency order prices. The Reg.
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Aug 28, 2024 | 
jdsupra.com | Amanda Lawrence |Leslie Meredith |Ignacio A. Sandoval
The U.S. Supreme Court has ruled that defendants in securities fraud cases brought by the SEC are entitled by the Seventh Amendment to have the SEC’s claims for civil money penalties decided by a jury and not in an administrative proceeding. The opinion is narrower than it might have been as the Court did not rule on two other questions the case presented.
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Feb 28, 2024 | 
jdsupra.com | James E. Doench |Sarah Riddell |Ignacio A. Sandoval
On February 6, 2024, the US Securities and Exchange Commission (SEC) adopted new Rules 3a5-4 and 3a44-2 (the Final Rules) under the Securities Exchange Act of 1934 (the Exchange Act) to further define what it means to be engaged in the business of dealing in securities and government securities.
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Feb 27, 2024 | 
morganlewis.com | Ignacio A. Sandoval |Kyle Whitehead |James E. Doench |Sarah Riddell
On February 6, 2024, the US Securities and Exchange Commission (SEC) adopted new Rules 3a5-4 and 3a44-2 (the Final Rules) under the Securities Exchange Act of 1934 (the Exchange Act) to further define what it means to be engaged in the business of dealing in securities and government securities.
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Nov 13, 2023 | 
jdsupra.com | Ignacio A. Sandoval
The Securities and Exchange Commission (SEC) adopted a new rule and form requiring certain persons to report short sale-related data to the SEC, which will in turn publish aggregate data. The SEC also adopted related amendments to the CAT NMS Plan to capture short sales effected by market makers in connection with bona fide market making activities. On October 13, 2023, the SEC adopted Rule 13f-2 under the Securities Exchange Act of 1934 (Exchange Act) and Form SHO.
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Nov 10, 2023 | 
morganlewis.com | Ignacio A. Sandoval
The Securities and Exchange Commission (SEC) adopted a new rule and form requiring certain persons to report short sale-related data to the SEC, which will in turn publish aggregate data. The SEC also adopted related amendments to the CAT NMS Plan to capture short sales effected by market makers in connection with bona fide market making activities. On October 13, 2023, the SEC adopted Rule 13f-2 under the Securities Exchange Act of 1934 (Exchange Act) and Form SHO.
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Nov 2, 2023 | 
jdsupra.com | Ignacio A. Sandoval
The US Securities and Exchange Commission (SEC) has finalized a rule requiring certain parties to report their securities lending transactions to a registered national securities association (RNSA). The Financial Industry Regulatory Authority, Inc. (FINRA), currently the only RNSA, must now adopt rules implementing the infrastructure for such reporting and dissemination.
The SEC adopted the new rule, Rule 10c-1a, under the Securities Exchange Act of 1934 (the Exchange Act) on October 13, 2023.
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Nov 1, 2023 | 
morganlewis.com | Ignacio A. Sandoval
The US Securities and Exchange Commission (SEC) has finalized a rule requiring certain parties to report their securities lending transactions to a registered national securities association (RNSA). The Financial Industry Regulatory Authority, Inc. (FINRA), currently the only RNSA, must now adopt rules implementing the infrastructure for such reporting and dissemination. The SEC adopted the new rule, Rule 10c-1a, under the Securities Exchange Act of 1934 on October 13, 2023.
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Oct 16, 2023 | 
jdsupra.com | Ignacio A. Sandoval
On October 13, 2023, the US Securities and Exchange Commission (SEC) adopted Rule 10c-1a requiring the reporting and dissemination of certain details regarding securities lending transactions. New Rule 10c-1a under the Securities Exchange Act of 1934 requires generally that specified information about securities loans be reported to the Financial Industry Regulatory Authority Inc.
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Oct 16, 2023 | 
morganlewis.com | Ignacio A. Sandoval
The US Securities and Exchange Commission recently adopted a tempered version of its November 2021 proposed rule aimed at bringing greater transparency to securities lending. Among its aspects, the final rule eased the timeframe needed for public disclosure of more granular data to 20 days after the loan is made. Speaking to Ignites, partner Ignacio Sandoval said that “it’s not going to be a ticker tape for securities lending.
