# 2025-19926: SEC Grants Temp Break on New Stock Pricing and Fee Regulations

2025-19926, Order Granting Temporary Exemptive Relief, Pursuant to Section 36(a)(1) of the Securities Exchange Act of 1934 and Rules 610(f) and 612(d) of Regulation NMS, From Compliance With Rule 600(b)(89)(i)(F), Rule 610(c), Rule 610(d) and Rule 612 of Regulation NMS, as Amended, is a Federal Register notice from Securities and Exchange Commission published 2025-11-17, effective 2025-10-31 (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-19926
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-19926
- Title: Order Granting Temporary Exemptive Relief, Pursuant to Section 36(a)(1) of the Securities Exchange Act of 1934 and Rules 610(f) and 612(d) of Regulation NMS, From Compliance With Rule 600(b)(89)(i)(F), Rule 610(c), Rule 610(d) and Rule 612 of Regulation NMS, as Amended
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 51418
- Published: 2025-11-17
- Effective: 2025-10-31
- Comments close: not stated
- Significant: no
- Touches household money: no
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

SEC Grants Temp Break on New Stock Pricing and Fee Regulations

## Summary

The SEC is giving some stock market players a temporary break from new pricing and fee rules that were supposed to start in November 2025. This pause helps them adjust without rushing, especially for stocks priced $1 or more per share. It affects trading fees, pricing steps, and how order info is shared, with no immediate extra costs for investors.

## Effects PRIA read

- Minimum Pricing Increment Delayed: benefit, low. The SEC delayed the start of the amended minimum pricing increment of $0.005 for bids, offers, orders, and indications of interest in NMS stocks priced equal to or greater than $1.00 per share until the first business day of November 2026. This order applies to national securities exchanges, nation…
- Access Fee Cap Implementation Postponed: cost, medium. The SEC postponed the compliance date for the amended access fee caps in Rule 610(c) — which lower the cap to $0.001 per share for protected quotations in NMS stocks priced $1.00 or more and to 0.1% of quotation price for stocks under $1.00 — until the first business day of November 2026. Trading c…
- Determinable Fees Requirement Deferred: cost, low. The SEC granted temporary relief delaying compliance with Rule 610(d), which requires exchange fees and rebates to be determinable at the time of execution, until the first business day of February 2026. The delay was granted because exchanges may be unable to file required rule changes during the…
- Round Lot Rule Filing Deadline Extended: cost, low. The SEC provided exchanges temporary relief from the requirement to file proposed rule changes to amend exchange rules to reflect the round lot definition in Rule 600(b)(93) until 30 calendar days after the end of the lapse in appropriations. The Commission noted exchanges may be prepared to implem…

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## Sources
- [2025-19926 on federalregister.gov](https://www.federalregister.gov/documents/2025/11/17/2025-19926/order-granting-temporary-exemptive-relief-pursuant-to-section-36a1-of-the-securities-exchange-act-of)
- [2025-19926 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-11-17/pdf/2025-19926.pdf)

## Related
- [Previous: 2025-19925, Senior Executive Service Performance Review Board Membership; Correction](https://policyrisk.com/federal-register/2025-19925)
- [Next: 2025-19929, Notice of Receipt of Complaint; Solicitation of Comments Relating to the Public…](https://policyrisk.com/federal-register/2025-19929)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-19926 (as of 2026-06-08).