SEC.gov | Trading and Markets

The Division of Trading and Markets establishes and maintains standards for fair, orderly, and efficient markets. The Division regulates the major securities market participants, including broker-dealers, self-regulatory organizations (such as stock exchanges, FINRA, and clearing agencies), and transfer agents. For further information, click here.

COVID-19

Response to COVID-19: Overview of selected SEC response efforts to COVID-19

Statement: TM is continuing to conduct normal business functions in addition to its engagement in activities in connection with challenges raised by COVID-19
March 20, 2020

TM Response to COVID-19: Links to certain TM-related documents in response to the effects of COVID-19

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Confidential Treatment Orders
Filing Review Correspondence
Notices of Effectiveness

Regulation Best Interest, Form CRS and Related Interpretations and Guidance on Investment Adviser and Broker-Dealer Standards of Conduct

Resources

Staff Guidance and Statements
Hearings and Roundtables
Regulations and Releases
Archives

No-action Letter Regarding Broker-Dealer Books and Records and Reporting Requirements (December 9, 2022)
No-action Letter Regarding Amended Rule 15c2-11 in Relation to Fixed Income Securities (November 30, 2022)
No-action Letter Regarding Rule 15c2-11 and Fixed Income Securities (December 16, 2021)
No-action Letter Regarding Rule 15c2-11 and Fixed Income Securities (September 24, 2021)
Staff Statement on the Proposed Expert Market (August 2, 2021)
Staff Statement on Fully Paid Lending (April 16, 2021)
Staff Bulletin: Risks Associated with Omnibus Accounts Transacting in Low-Priced Securities (November 12, 2020)
Staff Report on the Regulation of Clearing Agencies (October 1, 2020)
Updated Staff Statement: Regarding Requirements for Certain Paper Submissions in Light of COVID-19 Concerns (6/18/2020)
(replaces the April 2, 2020 Staff Statement)
Staff Statement Regarding Rule 302(b) of Regulation S-T in Light of COVID-19 Concerns
Staff Guidance on Substituted Compliance
Staff Guidance on SRO Fee Filings
Staff Legal Bulletins

Roundtables
Trading and Markets Hearings

Regulation Best Interest, Form CRS and Related Interpretations
Regulation SCI
Concept Releases
Compliance Guides

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Additional Resources

Section 31 Information
Consolidated Audit Trail
Electronic Filing of Broker-Dealer Annual Reports
Exemptive Orders
FAQs
Forms
No-Action Letters
Rulemaking
SRO Filings
Email Filing of Proposed NMS Plans and Plan Amendments

Haoxiang Zhu, Director, Division of Trading and Markets

Director's Office
202-551-5500

Press Release: Investment Adviser and Broker-Dealer Standards of Conduct

If you are a broker-dealer or associated with a broker-dealer, please contact the Division of Trading and Markets for general information:

Main Office
Phone: 202-551-5777
Fax: 202-772-9273
Email: tradingandmarkets@sec.gov

Operating Status

Division of Trading and Markets
March 20, 2020

What's New

Frequently Asked Questions Regarding Chief Compliance Officer Annual Reports Submitted by Security-Based Swap Dealers and Major Security-Based Swap Participants
March 3, 2023
Division of Trading and Markets Staff Statement Regarding Termination Notice for Exemptive Relief for Transfer Agents and Other Persons Related to the COVID-19 Response
June 6, 2022
SEC Staff Statement on LIBOR Transition—Key Considerations for Market Participants
Dec. 7, 2021

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