SEC Approves Shared Regulatory Plan for FINRA and Exchanges
Published Date: 3/25/2026
Notice
Summary
The SEC approved a new plan that splits up who watches over certain financial companies to avoid double-checking the same firms. This plan affects FINRA, MEMX, and MX2, making their jobs clearer and cutting down on extra work and costs for the companies they regulate. The changes take effect right away, helping everyone work smarter and smoother.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
One SRO Will Oversee Similar Rules
Effective March 20, 2026, FINRA will assume oversight and enforcement for MEMX and MX2 rules that are substantially similar to FINRA rules for firms that belong to both FINRA and MEMX or MX2. This allocation is intended to reduce duplicate examinations and should lower regulatory costs for those common member broker‑dealers.
Investor Protection Through SRO Coordination
The SEC found the Amended Plan promotes investor protection by fostering coordination among FINRA, MEMX, and MX2. That coordination is intended to improve oversight and protect investors across the affected markets.
Exchanges May Face Charges With Notice
The Amended Plan specifies the notice FINRA must give MEMX and MX2 if FINRA proposes to charge them for performing regulatory responsibilities under the Plan. That means MEMX and MX2 could incur charges for FINRA's work, but FINRA must provide adequate advance notice before imposing such charges.
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