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Securities Compliance Sentinel Analysis of cutting-edge securities industry issues

Category Archives: SROs

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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