To help raise awareness and educate the broader industry on the SEC’s proposed rules that would significantly expand Regulation ATS, STA is pleased to provide a recorded Open Call that features legal experts from the law firm Sidley
Our recording starts half way into our conversation. Therefore we recommend that you read the below executive summary report provided by Sidley prior to listening.
At the January 26, 2022, SEC Open Meeting, the Commission voted 3 to 1 to:
- Propose amendments to Exchange Act Rule 3b-16 (the definition of “Exchange”);
- Re-propose a modified Regulation ATS for ATSs that Trade U.S. Government Securities (with some other Reg ATS amendments throw in); and
- Re-propose changes to Regulation SCI for ATSs that trade U.S. Treasury and Agency Securities
The proposal expands the definition of “exchange” to include “communication protocol systems” that use nonfirm trading interest to bring together buyers and sellers of securities.
Thank you Presenters
Andrew Blake, J.D.
Jamie Brigagliano, J.D.
Charles Sommers, J.D.