Header graphic for print
Securities Compliance Sentinel Analysis of cutting-edge securities industry issues

Category Archives: SROs

Subscribe to SROs RSS Feed


Posted in Securities Exchanges, SROs

One SEC commissioner is pushing for a comprehensive review of the structure and regulatory regime of United States financial markets, including SROs. The SEC is serious about looking comprehensively at market structure issues, and must be willing to review its existing rules to see their impact on market structure.  One item is the regulatory framework… Continue Reading

Trading and Markets Provides Relief For Option Markets’ Familiarization Activities

Posted in Options, SROs

The United States Securities and Exchange Commission Division of Trading and Markets granted class no-action relief from securities-exchange and broker-dealer registration requirements for foreign options markets and their members that engage in certain “familiarization activities.”  See LIFFE A&M, SEC No-Action Letter, avail. 7/1/13, http://www.sec.gov/divisions/marketreg/mr-noaction/2013/liffe-am-070113.pdf. The Staff noted it has granted similar relief on “numerous occasions” to… Continue Reading


Posted in SROs

New competitive challenges and continued conflicts of interest require a better relationship between securities SROs and the SEC.  Over the past several years, SROs have faced increased competition in the markets where they operate. SROs face competitive challenges from electronic communications networks and foreign trading markets that have slowly chipped away at the SROs’ market… Continue Reading

Yes, Investment Advisers, You Will Have Self-Regulatory Organization Oversight

Posted in Investment Adviser Regulation, SROs

This past week, the House Financial Services Committee conducted hearings regarding the oversight of registered investment advisers, as well as the SEC’s recommendation of a uniform fiduciary duty standard for investment advisers and broker-dealers.  The SEC, however, did not receive many accolades at the hearings.  Instead, the SEC received significant criticism for its failure to… Continue Reading