MEMX Simplifies Voluntary Exit for Exchange Members
Published Date: 5/11/2026
Notice
Summary
MEMX is making it easier for members to quit their membership by simplifying the rules around voluntary termination. This change affects current members who want to leave and takes effect immediately, with no extra costs involved. It’s a smooth move to help members exit without hassle and keep things clear and simple.
Analyzed Economic Effects
4 provisions identified: 2 benefits, 2 costs, 0 mixed.
Quit Faster: Investigations No Longer Block Exit
If you are a MEMX Member, the Exchange removed the rule that your voluntary termination must wait until any investigations or examinations are finally completed. MEMX amended Rule 2.8 to delete the conditions in current Rule 2.8(iii) and 2.8(iv), so a Member can terminate membership even if investigations or cycle exams are still ongoing, while MEMX retains post-termination disciplinary jurisdiction under Rule 8.1(b).
Must Clear All Filings and Payments First
Before a Member's voluntary termination takes effect, MEMX now requires the Member to (a) make any outstanding filings required under Exchange or FINRA rules and (b) pay any outstanding fees, assessments, charges, fines, or other amounts due to the Exchange, the Commission, or the Securities Investor Protection Corporation (SIPC). The amended Rule 2.8 expands the financial obligations that must be satisfied prior to termination.
Exchange Keeps One-Year Disciplinary Reach
MEMX confirms that it will retain disciplinary jurisdiction over a terminated Member or associated person for matters that occurred before termination if the Exchange provides written notice of the commencement of an inquiry within one year of receipt of the Member's latest written notice of termination (per Rule 8.1(b)).
No 30-Day Waiting Period Anymore
MEMX removed the automatic 30-day waiting period that delayed when a Member's voluntary termination would take effect. Under the amended Rule 2.8, termination will not be held by an automatic 30-day clock and will become effective once the Exchange verifies the termination conditions are met.
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