Equity Markets Advisory Content

For review is a draft ICI comment letter to the proposal issued by nine federal agencies including the Securities and Exchange Commission, to jointly establish data standards for collections of information reported to the Agencies under the Financial Data Transparency Act of 2022.

On September 18, 2024, the SEC, in a unanimous vote, adopted amendments to Regulation NMS that would impact the minimum quoted price increments for NMS securities, the access fee caps that registered securities exchanges could charge, and odd lot transparency.

On September 16, 2024, the SEC issued an order disapproving proposed changes to the National Market System (NMS) Plan to Address Extraordinary Market Volatility (the "Plan") filed by the Plan participants, which consists of the national securities exchanges and the Financial Industry...

As required by the Financial Data Transparency Act of 2022, several federal financial regulators, including the SEC, published a proposal to establish joint data standards. The purpose of the Proposal is to promote the interoperability of financial regulatory data across the Agencies.

The Office of Information and Regulatory Affairs released the Spring 2024 Unified Agenda of Regulatory and Deregulatory Actions on July 8, 2024. The agenda includes regulatory actions that the Securities and Exchange Commission and Commodity Futures Trading Commission expect to take...

On 3 July, ICI Global provided a high-level response to IOSCO's recent consultation on exchange operation, governance, and business models.

ICI, along with a number of other trade associations who represent different participants in the U.S. capital markets, developed a white paper,"Investors and the Markets First: Reforms to Restore Confidence in SEC", which (i) identifies areas where the SEC's current rulemaking agenda...

ICI Global responded to the Financial Stability Board's recent consultation on non-bank market participants' liquidity preparedness for margin and collateral calls. The FSB's consultation presented eight cross-sectoral policy recommendations that are addressed to non-bank financial...

On May 7, 2024, the Securities and Exchange Commission published a notice to solicit comments on a proposed rule change filed, pursuant to Securities Exchange Act Rule 19b-4, by the Financial Industry Regulatory Authority to adopt a new rule series to require reporting of securities...