Topic
Securities Trading
70 published works
Ryan P. Smith Law Blog
Law and Order – August 2026: Recalibration
The Financial Industry Regulatory Authority, Inc. (FINRA) posts disciplinary actions to an online database. It also publishes a monthly summary of these actions, which is a worthwhile read for those…
The CLS Blue Sky Blog
Shadow SEC Statement No. 17: The Tokenized Securities Venue “Order”
By Renholding
On September 17, 2026, two days after the Clarity Act failed to advance in the U.S. Senate, the Securities and Exchange Commission issued a highly question-begging and likely illegal “Order”…
Public Company Advisory Blog
Tokenized Trading Is Coming to Public Equities: Are You Prepared for the 30-Day Opt-Out Deadline?
By David Lynn
Tokenized securities are moving from what was once theory to regulated market infrastructure. For the first time, pursuant to an SEC exemptive order, third parties may be able to tokenize…
Global Investment Watch
United States: Time to Get Cross!
By: Thoreau A. Bartmann and Lance C. Dial It’s been a rocky road for cross trading fixed-income securities by mutual funds. Before 2020, when the Securities and Exchange Commission (SEC)…
The Securities Law Blog
SEC Announces Agenda and Panelists for Roundtable on Preparations for 24-Hour Trading
The Securities and Exchange Commission today announced the agenda and panelists for its Sept. 17, 2026, roundtable on preparations for 24-hour trading.The roundtable will be held at the SEC’s headquarters…
The CLS Blue Sky Blog
SEC Trading and Markets Chief Speaks to Securities Traders Association of New York
By Jamie Selway
Good morning and good to be with you all. Joe [Mecane], thank you for the introduction. It’s an honor to join you for STANY’s 90th annual conference. For ninety years,…
SEC Actions
Lies and False Statements Used by Traders of Illiquid Securities
Trading securities depends in part on obtaining pertinent, accurate information about the investment in a timely fashion. In contrast, having false or incomplete information can cause a misjudgment to be…
The Securities Law Blog
SEC Adopts Rules to Amend Minimum Pricing Increments and Access Fee Caps and to Enhance the Transparency of Better Priced Orders
The Securities and Exchange Commission today adopted amendments to certain rules under Regulation NMS to adopt an additional minimum pricing increment, or “tick size,” for the quoting of certain NMS…
Ryan P. Smith Law Blog
Not the Same CAT
By Ryan
I do not think that it is an exaggeration to write that historically the public’s view of securities trade reporting has been a collective yawn. (In fact, that sentiment may…
The Securities Law Blog
SEC Updates Ethics Rules Governing Securities Trading by Agency Personnel
The Securities and Exchange Commission today adopted amendments to its ethics rules to strengthen and modernize its ethics compliance program. The amendments update the SEC’s existing, robust ethics requirements that…