SEC Orders Capital Market Operators to Register with Their Respective Trade Groups/Associations

October 15, 2018/SEC

The Commission hereby draws the attention of all Capital Market Operators to Rule 25(1)(a) of the SEC Rules and Regulations (as amended) on Membership of Self-Regulatory Organizations (SROs).  The Rule provides that “Every person registered to perform any function in the market shall be a member of an SRO or a Trade Association relevant to its function”.

All Capital Market Operators that are yet to register with their Trade Groups/Associations are hereby required to do so and submit evidence of their registration to the Commission not later than December 31, 2018.

Any CMO that fails to comply with this directive shall be sanctioned in line with the SEC Rules and Regulations.

 

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