SEC Extends Mark Durham FINRA Decision Deadline to July 8, 2026
The SEC issued an order extending by 90 days the period within which the Commission must issue its decision in the matter of Mark Kipling Durham v. FINRA. The original deadline is extended to July 8, 2026. This is a procedural administrative action that does not affect the substantive merits of the underlying FINRA disciplinary matter.
SEC Extends Rule 22e-4 OMB Review for Liquidity Risk Management Programs
The SEC has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information under Rule 22e-4 (OMB Control No. 3235-0737). Rule 22e-4 requires open-end funds and in-kind ETFs to establish written liquidity risk management programs including policies for liquidity classification, highly liquid investment minimums, 15% illiquid investment limits, and redemptions in kind.
TXSE Amends Stockholders' Agreement, Adopts Texas Bylaws
The SEC published notice of Texas Stock Exchange LLC's proposed rule change to convert TXSE Group Inc. and the Exchange from Delaware to Texas corporate governance documents. The filing includes amendments to the Stockholders' Agreement, adoption of Texas Certificates of Formation, Bylaws, and a Company Agreement, replacing all corresponding Delaware documents. The Exchange filed under the non-controversial expedited procedure.
24X National Exchange LLC Amends LLC Agreement for Shinhan Capital Raise
The SEC published a notice that 24X National Exchange LLC filed a proposed rule change to amend the Fourth Amended and Restated Limited Liability Company Agreement of 24X US Holdings LLC. The amendment accommodates the issuance of Voting Common Units to Shinhan Securities Co., Ltd. upon conversion of a convertible promissory note as part of a capital raise. The SEC is soliciting comments on the proposed rule change.
FINRA Proposes Exempting Collective Trust Funds from Rules 5130 and 5131
FINRA filed a proposed rule change with the SEC to amend Rules 5130 and 5131, which govern restrictions on initial equity public offerings and new issue allocations. The proposal would exempt specified collective trust funds from certain restrictions under these rules. The SEC is soliciting public comments on the proposed changes.
OCC Collateral Rule Change - Acceptable Collateral Types and Wrong-Way Risk Update
The SEC approved OCC's proposed rule change to modify acceptable collateral types and strengthen wrong-way risk controls. OCC, the central counterparty for US listed options markets, will stop accepting certain collateral types and impose margin add-ons for positions involving equities and ETNs issued by clearing members and affiliates. Affected clearing members must adapt collateral management systems and portfolio strategies.
NYSE Proposes Amendments to Rule 8000 and Rule 9000 Disciplinary Rules
NYSE filed proposed amendments to Rule 8000 (Investigations and Sanctions) and Rule 9000 Series (Code of Procedure) to harmonize with recent FINRA disciplinary rule changes. The amendments would provide automatic stays of specified member organization expulsions and cancellations pending SEC review, and grant staff authority to stay other sanctions before they take effect.
NYSE Amendment No. 2, Rule 5.2(j)(9), ETF Shares
The SEC granted accelerated approval to NYSE Rule 5.2(j)(9), enabling the generic listing and trading of Class Exchange-Traded Fund Shares. The new rule establishes standards for Class ETF Shares and includes conforming changes to existing NYSE listing rules. Asset managers and investors involved in ETF products will need to understand the new listing framework.
DTC Rule Corrections, Clarifications, and Harmonization Changes
The SEC published a notice that The Depository Trust Company filed a proposed rule change to make corrections, clarifications, and harmonization changes to DTC's Rules and Procedures. The changes are designed to improve transparency and consistency between DTC and its two clearing agency affiliates, National Securities Clearing Corporation and Fixed Income Clearing Corporation. The SEC is publishing this notice to solicit comments from interested persons.
Kyntra Bio Receives Nasdaq Non-Compliance Notice - $50M Asset/Revenue Requirement
Kyntra Bio, Inc. received a Nasdaq Listing Qualifications Staff letter on April 2, 2026, notifying the company that it no longer complies with Nasdaq Global Select Market continued listing requirements under Rule 5450(b)(3)(A), which mandates $50 million in total assets and total revenue. The non-compliance stems from FibroGen International revenue being presented as discontinued operations in 2024 and 2025. The company has 45 days (until May 18, 2026) to submit a compliance plan to Nasdaq.
Brown & Brown 2025 Global Impact Report
Brown & Brown, Inc. published its 2025 Global Impact Report covering ESG activities for fiscal year 2025. The insurance agency, wholesale brokerage and programs organization operates 468 domestic locations across 47 states and 246 international locations in 15 countries. The report addresses governance, enterprise ethics, enhanced cybersecurity, data security, customer privacy, climate, environment and community initiatives.
Geoffrey Allen Wall - Final Consent Judgment - Penny Stock Pump and Dump Scheme
SEC obtained a final consent judgment against former stockbroker Geoffrey Allen Wall for participating in a fraudulent penny stock pump and dump scheme. Wall is permanently enjoined from securities violations and barred from penny stock offerings, and ordered to pay disgorgement of $3,187,277 plus $1,081,662 in prejudgment interest. The scheme, conducted from at least 2012 through 2016, involved a fraudulent offshore trading platform.
SEC Charges Backswing Ventures GP LLC and Kyle James Asman for Investment Adviser Fraud
The SEC filed charges in the U.S. District Court for the Middle District of Florida against investment advisers Kyle James Asman and Backswing Ventures GP LLC for allegedly defrauding investors in their private fund Backswing Ventures Fund I, LP through $515,000+ in excessive management fees (23%+ of capital contributions) and material misrepresentations regarding audits, fund investments, and Asman's credentials.
Stryker Corp Amends Cybersecurity Disclosure Under Item 1.05
Stryker Corp filed an amended Form 8-K with the SEC under Item 1.05 (Cybersecurity Incident Disclosure) to update a prior cybersecurity disclosure. The filing amends a previously submitted disclosure related to a cybersecurity matter at the company's Portage, MI operations. Public companies are required to disclose material cybersecurity incidents on Form 8-K Item 1.05 within four business days of determining materiality.