SEC Rules Content

On December 19, 2024, the Department of the Treasury published a report on the Uses, Opportunities, and Risks of Artificial Intelligence in Financial Services Sector.

The SEC adopted amendments to the Fund Names Rule in September 2023. The compliance dates for the Amendments are currently December 11, 2025 for larger entities and June 11, 2026 for smaller entities.

The Missouri Secretary of State has proposed an amendment applicable to investment advisers and investment adviser representatives which would deem effecting any transaction with an investment objective not authorized by a client to be a fraudulent act in Missouri.

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 December 12, 2024, the Securities and Exchange Commission (SEC) issued an order granting a partial stay to Rules 610 and 612 of the recently adopted Regulation NMS amendments.

The United States Court of Appeals for the Fifth Circuit vacated the order of the Securities and Exchange Commission approving Nasdaq's Board Diversity Proposal

The Attorneys General of eleven States, led by Texas, filed suit against three asset managers in the U.S. District Court for the Eastern District of Texas, alleging that the asset managers' "acquisition and use of shareholdings in … domestic coal producers" violated antitrust laws.

Last week, the SEC staff extended indefinitely compliance relief from Exchange Act Rule 15c2-11 (the "rule") for brokers and dealers publishing or submitting quotations for fixed income securities. The prior SEC staff relief—which the 2024 Letter withdraws—would have expired in...

ICI and SIFMA AMG submitted a letter to SEC Chair Gensler, reiterating our shared concerns about applying Rule15c2-11 under the Exchange Act to fixed income securities.