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The US Securities and Exchange Commission has given brokers three months’ money to agree to a 50-year law reform that is set to take effect next week.
Savings banks and stock exchanges were about to be evicted in recent weeks to speed up the SEC 15c2-11 law, first enacted in 1971. The law was enacted to protect stockbrokers from eagles in stock markets looking for more information. funds are available at any company that records stock prices.
The law does not provide for the sale of bonds, but this practice has never been applied to the stock market. Many traders – as well as some SEC commissioners – believe it only affects the stock market.
Last year The SEC changed the law Requiring retailers to ensure that their content is also publicly available to investors.
The resignation of then-SEC SEC chairman Jay Clayton raised questions from lawyers and bank adherence departments as to whether the law applies to securities such as corporate finance, as there is no possibility of allowing anything other than bonds.
The trade union federation said earlier this year the SEC, led by Gary Gensler, had confirmed that the law would apply to the bond market, sparking insanity demanding that it not be released or, in the long run.
The program of The SEC said late Friday that it will implement the law on the regular markets on January 3 instead of September 28 as originally planned.
Bond sellers are concerned that most of the information that needs to be explained by listed companies in the stock market is not available to private companies that only offer bonds.
Fears have been shaken in recent weeks that without a reduction or increase, sales in many corporate market areas – especially sub-corporations, private companies – could be significantly reduced. Some retailers have argued over whether they should stop spreading the word in a secure retail environment and instead resort to measures such as returning calls to avoid using the law.
Commissioner Hester Peirce, who joined the SEC in 2018 and is involved in the transition, said the deadline was “Never Enough”, adding that they believe that when these rules are written they are only used in the stock market.
“I have to ask for comment on all these laws,” Peirce said in a statement Friday. “However, my failure to do so, the failure of the agency to prioritize the issue, and the failure of market participants to identify the problem during the legislative process, was not our reason now to continue moving forward and adhere to this rule in the marketplace without due consideration. ”