The SEC issued a No-Action Letter delaying full compliance with these requirements of the amendments to the Rule from January 3, 2023 to January 4, 2025. SEC staff’s interpretation of the amendments to the Rule can have impact on issuers of fixed-income securities.
In 2021, the Securities and Exchange Commission (SEC) took the industry off-guard by announcing its new position that Rule 15c2-11 of the Securities Exchange Act of 1934 (Rule) and its.
In Short - The Situation: Congress recently amended the Securities Exchange Act of 1934 (the "Exchange Act") to exempt certain "M&A brokers" from registration as broker-de.