Federal Register #SR-MEMX-2026-12

MEMX LLC Proposed Rule Change for Voluntary Termination of Membership

This notice from the Securities and Exchange Commission (SEC) details a proposed rule change by MEMX LLC regarding voluntary termination of exchange membership: - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors: - MEMX LLC (the only entity mentioned) - Nature of Request: - No products or services are being procured; this is a regulatory notice - MEMX LLC proposes to amend Rule 2.8 to simplify the process for members to voluntarily terminate their membership - Key Rule Amendments: - Removes the requirement for completion of investigations and examinations before termination - Eliminates the 30-day waiting period after a member's resignation - Expands the scope of financial obligations that must be settled prior to termination - Removes the Board's authority to declare an earlier effective resignation date - Retains disciplinary jurisdiction over terminated members for matters occurring before termination - Unique/Notable Requirements: - Focuses on regulatory process simplification and post-termination accountability, not procurement of goods or services

Description

MEMX LLC filed a proposed rule change to amend Rule 2.8 to simplify the process for a Member to voluntarily terminate its membership. The amendment removes conditions requiring completion of investigations and examinations before termination, aiming to avoid unnecessary delays. The rule change retains disciplinary jurisdiction over terminated members for prior matters and removes a 30-day waiting period after resignation. The proposal also expands financial obligations that must be settled before termination and removes the Board's authority to declare an earlier effective resignation date.

View original listing