SEC Staff Guidance on Corporation Finance Interpretations
The SEC's Division of Corporation Finance has updated its landing page for Corporation Finance Interpretations (CFIs). These interpretations provide staff guidance on federal securities laws and are not binding rules. The division is actively refreshing and reorganizing these positions.
SEC No-Action Relief for Multi-Class ETFs on Disclosure Rules
The SEC's Division of Trading and Markets has granted no-action relief to broker-dealers regarding disclosure requirements under Rules 15c1-5 and 15c1-6 for multi-class ETFs. This relief allows broker-dealers to effect in-kind creation or redemption transactions without specific disclosures under certain conditions related to multi-class ETF orders and compliance with existing terms.
SEC Order to Show Cause against Christian A. Cuesta
The SEC has issued an Order to Show Cause against Christian A. Cuesta for failing to file an answer to an earlier order instituting administrative proceedings. Cuesta must respond by March 30, 2026, or face potential default judgment and sanctions.
SEC v. Chimene Van Gundy - Order to Show Cause
The SEC has issued an order to show cause against Chimene Van Gundy for failing to file an answer in an administrative proceeding. Van Gundy must respond by March 31, 2026, or face potential default judgment and sanctions.
SEC Order to Show Cause against Marco A. Rosas
The SEC has issued an Order to Show Cause against Marco A. Rosas for failing to file an answer to an earlier order instituting administrative proceedings. Rosas must respond by March 30, 2026, or face potential default judgment and sanctions.
SEC Denies Reconsideration for Southeast Investments and Frank Harmon Black
The SEC denied a motion for reconsideration filed by Southeast Investments, N.C., Inc. and Frank Harmon Black regarding a prior disciplinary action by FINRA. The Commission found the motion failed to meet the standards for reconsideration, reiterating arguments previously made and not presenting new evidence.
SEC Order Directing Additional Briefing for Chester Lu
The SEC issued an order directing Chester Lu to file additional briefing regarding his application to review action by a self-regulatory organization (SRO). Lu's application alleges fraud by a cryptocurrency exchange, but the SEC requires clarification on whether the exchange is an SRO and if its actions fall within the scope of SEC review.
SEC Sunshine Act Meeting Notice - March 19, 2026
The Securities and Exchange Commission (SEC) has announced a closed Sunshine Act meeting scheduled for March 19, 2026. The meeting will address the institution and settlement of injunctive actions and administrative proceedings, resolution of litigation claims, and other enforcement-related matters.
SEC Notice: JPMorgan Private Markets Fund Co-Investment Application
The SEC has issued a notice regarding an application from JPMorgan Private Markets Fund and affiliated entities. The application seeks an order to permit certain registered closed-end management investment companies and business development companies to co-invest in portfolio companies.
Paxos Securities Settlement Company LLC Application Amendment
The SEC is publishing a notice of an amendment filed by Paxos Securities Settlement Company, LLC (PSSC) to its application for registration as a clearing agency. The amendment modifies exhibits related to member director considerations, PSSC rules on credit risk and counterparty termination, and ongoing monitoring of participants. The SEC is soliciting public comments on the amendment.
SEC: Nasdaq MRX proposes new Outcome-Related Options rule
The SEC is seeking public comment on a proposed rule change by Nasdaq MRX to list and trade Outcome-Related Options (OROs). These cash-settled, European-style binary options would be based on the Nasdaq-100 Index and Nasdaq-100 Micro Index.
SEC approves Cboe BZX Exchange rule change on listing standards
The SEC has approved a rule change for the Cboe BZX Exchange, allowing its staff to grant an additional 180-day compliance period for beneficial holder listing deficiencies. This extends the total potential compliance period to 360 days for certain listed products demonstrating progress.
SEC Extends Comment Period for Nasdaq Listing Rule
The SEC has extended the comment period for a proposed rule change by Nasdaq to establish a new continued listing requirement of at least $5 million in market value of listed securities. The new deadline for the SEC to act on the proposal is April 29, 2026.
Nasdaq MRX LLC Proposed Rule Change - Fees and Rebates
Nasdaq MRX LLC has filed a proposed rule change with the SEC to amend its fee schedule. The exchange proposes to discontinue the Tier 4 Priority Customer Maker Rebate for Non-Penny Symbols. The SEC is soliciting comments on this proposal.
SEC Proposes Rule Change for MIAX Sapphire Fee Schedule
The SEC is publishing for comment a proposed rule change filed by MIAX Sapphire, LLC. The proposal seeks to amend the exchange's Fee Schedule to update certain non-transaction fee waivers and remove expired text related to trading floor operations. This action follows the exchange's launch of its trading floor in September 2025.
SEC Proposed Rule Change: 24X National Exchange LLC Rebates
The SEC is seeking public comment on a proposed rule change by 24X National Exchange LLC. The exchange proposes to amend its transaction rebates, increasing the rebate for added displayed volume and decreasing rebates for added midpoint volume executions. These changes aim to incentivize liquidity provision.
SEC Extends Nasdaq Rule Change Review for China Listing Criteria
The SEC has extended the review period for Nasdaq's proposed rule change regarding additional initial listing criteria for companies primarily operating in China. The comment period was originally set to end on March 18, 2026, but has been extended by 60 days.
SEC Statement on Proposed Amendments to Rule 15c2-11 for Equity Securities
SEC Commissioner Hester M. Peirce issued a statement regarding proposed amendments to Exchange Act Rule 15c2-11, which would clarify its application solely to equity securities. The statement criticizes the prolonged and burdensome process leading to this proposal, which aims to rectify past uncertainty regarding the rule's application to fixed-income securities.
SEC Enforcement Director Margaret Ryan Resigns; Sam Waldon Named Acting Director
The Securities and Exchange Commission (SEC) announced that Margaret A. Ryan has resigned as Director of the Division of Enforcement. Principal Deputy Director Sam Waldon has been named Acting Director, effective March 16, 2026. The SEC noted progress in reprioritizing enforcement cases towards fraud and investor harm.
SEC Proposes Amendments to Exchange Act Rule 15c2-11
The SEC has proposed amendments to Exchange Act Rule 15c2-11, which governs information requirements for broker-dealers quoting securities in the OTC market. The proposed changes would clarify that the rule applies only to equity securities.
SEC Proposes Amendments to Rule 15c2-11 for Equity Securities
The SEC has proposed amendments to Rule 15c2-11, which governs information requirements for brokers and dealers publishing quotations for equity securities in the OTC market. The proposed changes aim to update the rule's focus on preventing manipulative trading schemes.
SEC Adopts Amendments to EDGAR Filer Manual
The SEC has adopted amendments to the EDGAR Filer Manual, Volumes I and II, with the EDGAR Release 26.1 scheduled for deployment on March 16, 2026. These amendments update the electronic filing system's procedures and requirements for public companies and other regulated entities.