Commercial banks also perform trading operations in their own interests and at their own expenses. The public comment period will remain open for 60 days following publication of the proposing release on the SEC’s website or 30 days following publication of the proposing release in the Federal Register, whichever period is longer. Commercial Banks and Asset Managers transact their own and their clients business in the financial services markets. Forex market participants mainly are commercial banks executing orders from exporters, importers, investment institutions, insurance and retirement funds, hedgers and private investors. The proposal will be published on SEC.gov and in the Federal Register. Under the proposed rules, any market participant that engages in activities as described in the rules would be a “dealer” or “government securities dealer” and, absent an exception or exemption, required to: register with the Commission under Section 15(a) or Section 15C, as applicable become a member of an SRO and comply with federal securities laws and regulatory obligations, including as applicable, SEC, SRO, and Treasury rules and requirements. If adopted, the proposed rules, Exchange Act Rules 3a5-4 and 3a44-2, would further define the phrase “as a part of a regular business” in Sections 3(a)(5) and 3(a)(44) of the Act to identify certain activities that would cause persons engaging in such activities to be “dealers” or “government securities dealers” and subject to the registration requirements of Sections 15 and 15C of the Act, respectively. The Survey of Market Participants intends to monitor the expectations of decision-makers and experts in the financial and real sectors regarding various. “Further, requiring all firms that regularly make markets, or otherwise perform important liquidity-providing roles, to register as dealers or government securities dealers also could help level the playing field among firms and enhance the resiliency of our markets.” Teams are normally divided by sectors, but they can also be divided into specific teams depending on the deal they’re doing. Treasury market, be registered with the Commission,” said SEC Chair Gary Gensler. In the primary market, investment banks offer a variety of services including the issuance of stocks and bonds, leading an IPO, or leading an M&A. “I was pleased to support this proposal because I believe it reflects Congress’s statutory intent that firms engaging in important liquidity-providing roles in the securities markets, including in the U.S. The Securities and Exchange Commission today proposed two rules that would require market participants, such as proprietary (or principal) trading firms, who assume certain dealer functions, in particular those who as act as liquidity providers in the markets, to register with the SEC, become members of a self-regulatory organization (SRO), and comply with federal securities laws and regulatory obligations.
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