SEC Holiday Reading List: Four Rule Proposals That Would Overhaul Market Structure and How Retail Orders Are Executed

SEC Holiday Reading List: Four Rule Proposals That Would Overhaul Market Structure and How Retail Orders Are Executed

Client Alert

Related Documents

Related Solutions

WilmerHale’s broker-dealer team draws on its intricate knowledge of the regulatory landscape to advise the world’s leading financial market participants.
WilmerHale has played a leading role in shaping the rules that govern the financial services industry in the United States.
Representing FinTech clients throughout their lifecycles.
Our team provides guidance on all facets of swaps, futures and derivatives market activity, including regulatory compliance, transactions, litigation, and investigations and enforcement.
WilmerHale’s Investment Management Group provides sophisticated legal and regulatory advice to investment advisers, private fund sponsors, registered funds, and their independent trustees.
Offering a sophisticated, full-service solution to private equity sponsors and entrepreneurs, from initial investment to exit.
WilmerHale has a record of success at all stages of enforcement proceedings—from informal inquiries to litigation.
WilmerHale has defended clients in hundreds of class, derivative, shareholder and individual actions alleging securities fraud, breach of fiduciary duty and other corporate misconduct.
Critical industry insight and formidable strength across key practices.

On December 14, 2022, the Securities and Exchange Commission released four sweeping rulemaking proposals that would change market structure as we currently know it and introduce a new federal standard for a broker-dealer’s duty of best execution. We have summarized the key provisions of the proposals and provide some of the Commissioners’ initial reactions, including particularly divergent views with respect to the proposed Order Competition Rule and Regulation Best Execution. Given their length and breadth, we are continuing to review the proposals—please stay tuned for additional updates with our key takeaways. The comment period for each of the proposals ends on the later of March 31, 2023, or 60 days after publication in the Federal Register.

Read the full alert.

Authors

Notice

Unless you are an existing client, before communicating with WilmerHale by e-mail (or otherwise), please read the Disclaimer referenced by this link.(The Disclaimer is also accessible from the opening of this website). As noted therein, until you have received from us a written statement that we represent you in a particular manner (an "engagement letter") you should not send to us any confidential information about any such matter. After we have undertaken representation of you concerning a matter, you will be our client, and we may thereafter exchange confidential information freely.

Thank you for your interest in WilmerHale.

I Accept Cancel