News Centre

Dealer, No Dealer?[1] : Statement On Further Definition Of “As A Part Of A Regular Business” In The Definition Of Dealer And Government Securities Dealer In Connection With Certain Liquidity Providers, SEC Commissioner Hester M. Peirce, Feb. 6, 2024

Date 06/02/2024

Thank you, Mr. Chair. I cannot support the final rule. Even though streamlined substantially,[2] it perpetuates the proposal’s fundamental flaw. The rule defines dealer in a way that is inconsistent with the statutory framework within which it sits and will distort market behavior and degrade market quality.

Modernizing Dealer Oversight, SEC Commissioner Jaime Lizárraga, Feb. 6, 2024

Date 06/02/2024

While markets and financial regulators will always face the uncertainty of unanticipated shocks, strengthened market resiliency can help reduce the harmful impact from these shocks. It can provide greater protection – and confidence – to investors, capital markets, and the financial system.

Statement On Adopting Changes To The Definition Of Dealer And Government Securities Dealer, SEC Commissioner Caroline A. Crenshaw, Feb. 6, 2024

Date 06/02/2024

The Securities Exchange Act of 1934 (“Exchange Act”) provides the SEC with broad authority over the securities industry, including the power to register, regulate, and oversee participants in the securities markets.

SIFMA, SIFMA AMG Statement On Introduction Of Legislation To Address The SEC’s PDA Rule

Date 06/02/2024

SIFMA and SIFMA AMG today issued the following statement from Executive Vice President of Advocacy Josh Wilsusen regarding the introduction of the Protecting Innovation in Investment Act.

“SIFMA strongly believes that the SEC should withdraw this proposal, which would be a radical departure from decades of federal securities law and completely upend today’s well-functioning regulatory regimes that ensure investors’ interests are protected through Regulation Best Interest and the Investment Advisers Act’s fiduciary duty, among other requirements. ”

Statement On Further Definition Of “As A Part Of A Regular Business” In The Definition Of Dealer, SEC Commissioner Mark T. Uyeda, Feb. 6, 2024

Date 06/02/2024

Thank you, Chair Gensler. Thank you to the staff for your presentation.

The EBA Releases Technical Package For Its 3.4 Reporting Framework

Date 06/02/2024

The European Banking Authority (EBA) today published a technical package for version 3.4 of its reporting framework. This package provides the standard specifications that include the validation rules, the Data Point Model (DPM) and the XBRL taxonomies to support the amendments to the reporting and disclosure technical standards on minimum requirement for own funds and eligible liabilities and total loss absorbing capacity (MREL/TLAC), as well as some minor corrections to the technical package on the interest rate risk in the banking book (IRRBB). The DPM Query Tool has also been updated to reflect the current release.  

SEC Adopts Rules To Include Certain Significant Market Participants As “Dealers” Or “Government Securities Dealers”

Date 06/02/2024

The Securities and Exchange Commission today adopted two rules that require market participants who engage in certain dealer roles, in particular those who take on significant liquidity-providing roles in the markets, to register with the SEC, become members of a self-regulatory organization (SRO), and comply with federal securities laws and regulatory obligations.

Ontario Securities Commission Board Extends Term Of CEO Grant Vingoe

Date 06/02/2024

The Ontario Securities Commission (OSC) announced today that its Board of Directors has extended Grant Vingoe’s term as Chief Executive Officer (CEO) for a period of five years. 

Statement On Final Rules Regarding The Further Definition Of A Dealer-Trader, SEC Chair Gary Gensler, Feb. 6, 2024

Date 06/02/2024

Today, the Commission is considering whether to adopt final rules further defining a dealer and government securities dealer. I am pleased to support this adoption because it requires that firms that act like dealers register with the Commission as dealers, thereby protecting investors as well as promoting market integrity, resiliency, and transparency.

Monitoring Group Pleased To Report Strong Progress Implementing Recommendations To Strengthen The International Audit, Assurance, Ethics, And Independence Standard-Setting System

Date 06/02/2024

The Monitoring Group (MG) is responsible for the overall governance of the international audit, assurance, ethics, and independence standard-setting system, including conducting periodic effectiveness reviews. In July 2020, the MG issued its recommendations Strengthening the International Audit and Ethics Standard-Setting System (MG Recommendations). The objectives of the MG Recommendations are the implementation of a more independent and inclusive multi-stakeholder standard-setting system that is more responsive to the public interest and an accelerated pace of change in the development of timely, high-quality audit, assurance, ethics, and independence standards.