Jessica Cohn

Dec 6, 2024 | jdsupra.com | Jessica Cohn |Joshua Durham |Richard Kerr

On 21 November 2024, the US District Court for the Northern District of Texas (Court) ruled against the US Securities and Exchange Commission (SEC) in two separate cases, vacating its rule which expanded the definition of securities dealers. In February 2024, the SEC adopted a rule expanding the definitions of “dealer” and “government securities dealer” to extend to market participants who provide significant liquidity to the markets (the Dealer Rule).