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FINRA Withdraws Changes to Mutual Fund Cash Compensation Disclosure Rules
August 22, 2011
FINRA has withdrawn previously proposed rules that would have altered its rules governing disclosures made by brokers and dealers selling mutual fund shares. In short, the new rules would have changed the disclosure requirements for cash compensation to FINRA member broker-dealers who sell mutual fund… read more
May 6 “Flash Crash” Report - the Director’s Cut
October 27, 2010
Gregg Berman, Senior Advisor to the Director of the SEC's Division of Trading and Markets, recently gave an address before the 11th Annual SIFMA Market Structure Conference. Berman's remarks were focused on the joint SEC and CFTC report on the May 6 "flash crash," and,… read more
SEC and CFTC Issue Report on May 6 Flash Crash
October 04, 2010
On Friday, the SEC and CFTC issues a joint report relating the findings of their study of the May 6, 2010 "Flash Crash," an unprecedented acute and sudden disappearance of meaningful prices for many major exchange-listed stocks in the middle of the May 6 trading day.… read more
SEC Expected to Publish Stock-by-Stock Rule Proposals this Week
June 07, 2010
In a June 4 statement by SEC spokesman, John Nestor, the Commission staff announced that it expects to present its stock-by-stock circuit breaker rule proposing release to the Commission sometime this week. The SEC announced on May 18, following the May 6 "Flash… read more
SEC Proposes Consolidated Audit Trail to Track Suspicious Activity
May 27, 2010
At yesterday's open meeting, the Securities and Exchange Commission approved the issuance of rule proposals that would allow the SEC and self regulatory organizations to track trade data across multiple markets, products and participants simultaneously, in real time. This "consolidated audit trail," if adopted, would… read more