Federal Register #4-566

SEC Amendment: Allocation of Insider Trading Enforcement Among U.S. Securities Exchanges and Regulatory Organizations

The Securities and Exchange Commission (SEC) is amending the regulatory framework for insider trading enforcement among U.S. securities exchanges and regulatory organizations: - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - Participating Organizations (OEMs/Regulatory Bodies): - Financial Industry Regulatory Authority, Inc. (FINRA) - Cboe BZX Exchange, Inc. - Cboe BYX Exchange, Inc. - NYSE Texas, Inc. - Cboe EDGA Exchange, Inc. - Cboe EDGX Exchange, Inc. - MEMX LLC - MIAX PEARL, LLC - Nasdaq Texas LLC - Nasdaq PHLX LLC - The Nasdaq Stock Market LLC - NYSE National, Inc. - New York Stock Exchange LLC - NYSE American LLC - NYSE Arca, Inc. - Investors Exchange LLC - Long-Term Stock Exchange, Inc. - 24X National Exchange LLC - Green Impact Exchange, LLC - MX2 LLC - Texas Stock Exchange LLC - Products/Services Requested: - Regulatory surveillance, investigation, and enforcement services for insider trading in NMS stocks - FINRA is assigned primary responsibility for these services for common FINRA members - Ongoing quarterly reporting and fee assessments based on trade volume - Unique/Notable Requirements: - Amendment adds MX2 LLC and Texas Stock Exchange LLC as new participants - Updates to SRO rules and reporting requirements - Plan aims to reduce regulatory duplication and clarify enforcement responsibilities - Participating organizations may terminate with 180 days' notice and SEC approval - Adherence to SRO rules on insider trading, supervision, records, and prevention of misuse of material nonpublic information - Key Locations: - SEC headquarters and offices of all participating exchanges and regulatory organizations across major U.S. financial centers

Description

This notice pertains to the filing and approval of an amendment to the plan for allocating regulatory responsibilities among multiple securities exchanges and regulatory organizations. The amendment focuses on the surveillance, investigation, and enforcement of insider trading rules. The plan aims to reduce regulatory duplication by designating responsibilities among the participating organizations. The Securities and Exchange Commission has approved and declared effective this amendment pursuant to Rule 17d-2 under the Securities Exchange Act of 1934.

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