SEC Extends Comment Period for SRO Proposed Rulemaking
The SEC extended the public comment period for proposed SRO rulemaking to March 8, 2005, to accommodate complexity and align with a related concept release, with no fraud, charges, or enforcement action involved.
The Securities and Exchange Commission extended the comment period for its proposed rulemaking on self-regulatory organizations (SROs) from January 7, 2005, to March 8, 2005, to coincide with a related Concept Release on self-regulation. The proposed rules addressed SRO governance, transparency, administrative practices, and oversight of trading in their own or affiliated securities, but involved no allegations of fraud, misconduct, or financial penalties. The extension was granted at the request of stakeholders due to the complexity of the proposals, and the SEC confirmed the original scope remained unchanged with comments still due by March 8, 2005.
The Securities and Exchange Commission announced on January 11, 2005, that it was extending the public comment period for its proposed rulemaking on self-regulatory organizations (SROs) from January 7, 2005, to March 8, 2005. This extension was made to align with the comment period for a related Concept Release on self-regulation and in response to stakeholder requests, given the length and complexity of the proposed rules. The rules under consideration aimed to improve SRO governance, administrative practices, transparency, and reporting requirements for national securities exchanges and registered securities associations, including oversight of their own or affiliated securities trading. No fraud, misconduct, enforcement action, or financial penalties were associated with this notice—it was purely a procedural step to facilitate public input. The SEC emphasized that the scope of the original proposal, published in the Federal Register on December 8, 2004, remained unchanged. Comments were still required to be submitted on or before March 8, 2005, and the agency encouraged broad participation from interested parties. This action reflected standard regulatory practice to ensure thorough stakeholder engagement on significant rulemaking initiatives.
Extracted insights
- person comment period
- location Washington D.C.
- SEC voted to extend Comment Period
- Proposed New Rules relate to Governance, Administration, Transparency, and Ownership of SROs
- Proposals relate to Listing and Trading by SROs
- Commission received Requests to Extend Comment Period
- Public Comment Period will end on March 8, 2005
SEC EXTENDS COMMENT PERIOD FOR SRO PROPOSED RULEMAKING FOR IMMEDIATE RELEASE 2005-5 Washington, D.C., Jan. 11, 2005 - The Securities and Exchange Commission today voted to extend for 45 days the comment period on the proposed rulemaking relating to self-regulatory organizations (SROs) that was published in the Federal Register on December 8, 2004 (Release No. 34-50699). These proposed new rules and amendments to existing rules relate to the governance, administration, transparency, and ownership of SROs that are national securities exchanges or registered securities associations, and the periodic reporting of information by these SROs regarding their regulatory programs. The proposals also relate to the listing and trading by SROs of their own or affiliated securities. The Commission received requests from interested persons to extend the comment period for this release to March 8, 2005, to coincide with the comment period for the related Concept Release Concerning Self-Regulation (Release No. 34-50700). The Commission believes that extending the comment period for Release No. 34-50699 is appropriate given the length and complexity of the proposals. The public comment period for Release No. 34-50699 will now end on March 8, 2005. The scope and comment process for this release remains as stated in the original Federal Register notice of December 8, 2004 and comments should be received on or before March 8, 2005. See also: Proposed Rule, Extension of Comment Period http://www.sec.gov/news/press/2005-5.htm Home | Previous Page Modified: 01/11/2005
SEC EXTENDS COMMENT PERIOD FOR SRO PROPOSED RULEMAKING FOR IMMEDIATE RELEASE 2005-5 Washington, D.C., Jan. 11, 2005 - The Securities and Exchange Commission today voted to extend for 45 days the comment period on the proposed rulemaking relating to self-regulatory organizations (SROs) that was published in the Federal Register on December 8, 2004 (Release No. 34-50699). These proposed new rules and amendments to existing rules relate to the governance, administration, transparency, and ownership of SROs that are national securities exchanges or registered securities associations, and the periodic reporting of information by these SROs regarding their regulatory programs. The proposals also relate to the listing and trading by SROs of their own or affiliated securities. The Commission received requests from interested persons to extend the comment period for this release to March 8, 2005, to coincide with the comment period for the related Concept Release Concerning Self-Regulation (Release No. 34-50700). The Commission believes that extending the comment period for Release No. 34-50699 is appropriate given the length and complexity of the proposals. The public comment period for Release No. 34-50699 will now end on March 8, 2005. The scope and comment process for this release remains as stated in the original Federal Register notice of December 8, 2004 and comments should be received on or before March 8, 2005. See also: Proposed Rule, Extension of Comment Period http://www.sec.gov/news/press/2005-5.htm Home | Previous Page Modified: 01/11/2005