Updates from the Hill and Comment Letter on Nasdaq Filing

SEC Adopts Rules to Modernize Key Market Infrastructure Responsible for Collecting, Consolidating, and Disseminating Equity Market Data
The SEC today adopted rules to modernize the infrastructure for the collection, consolidation, and dissemination of NMS market data. This infrastructure has not been significantly updated since its initial implementation in the late 1970s.

Brett W. Redfearn to Conclude Transformative Tenure as SEC Trading and Markets Director
The SEC today announced that Brett Redfearn, Director of the SEC’s Division of Trading and Markets, will conclude his tenure as Director by the end of the year after leading the Division for over three years. Since joining the SEC in October 2017, Mr. Redfearn led the Division on a wide range of initiatives critical to the efficient and fair functioning of our trading markets and the protection of Main Street investors.

SEC Announces Office Focused on Innovation and Financial Technology
The SEC today announced that the SEC’s Strategic Hub for Innovation and Financial Technology, commonly referred to as FinHub, will become a stand-alone office. Valerie A. Szczepanik will continue to lead FinHub as its first director and will report directly to the SEC Chairman.

FINRA Appoints Scott W. Anderson as Head of Market Regulation and Transparency Services
FINRA announced today that it has appointed Scott W. Anderson as Executive Vice President and Head of Market Regulation and Transparency Services. Anderson began his career at NASD, FINRA’s predecessor organization, and has 25 years of experience working on complex legal and compliance matters relating to the regulation of securities markets.

Read the full newsletter here