About Us    STA News   Events 
From the Hill

BlackRock report on equity market structure
In this month's edition of ViewPoint , BlackRock discusses the evolution of equity market structure and highlights some recommendations for U.S. and EU markets to promote transparent, resilient, and fair and efficient markets.
SEC proposes to expand "Test-the-Waters" to all issuers
The new rule and related amendments would expand the "test-the-waters" accommodation—currently available to emerging growth companies or "EGCs"—to all issuers, including investment company issuers.  
House Subcommittee on Diversity & Inclusion holds inaugural hearing
On Wed., Feb. 27, the House Subcommittee on D&I held its inaugural hearing titled: “Diversity Trends in the Financial Services Industry.” The hearing provided a forum to examine trends in diversity in the financial services industry, including management-level diversity and diversity among potential talent pools. Also discussed were challenges that financial services firms have identifying and increasing workforce diversity and practices that firms use to address such challenges.
Open Call

 Rule 606: Getting Closer
On Nov. 2, 2018, the SEC amended Rule 606 under Reg NMS to require additional disclosures by broker-dealers to customers regarding the handling of their orders. The intent of these amended rules is to provide more detailed and standardized information to customers—with a focus on institutional customers—thereby allowing a more effective assessment of how broker-dealers are carrying out their best execution obligations and the impact of a broker-dealer’s order routing decisions on the quality of their executions.

Join us as we discuss the most recent status and implementation deadlines


Mark Davies

  Wednesday, March 13
4:30 pm to 5:00 pm EDT
Dial in: 1-800-346-2923
Participant Code: 562 945#

STA files letter with Senate Banking Committee on Capital Formation
STA supports Title IX of S.488 (115 th Congress) and S.2347 (115 th Congress), which would expand testing-the-waters to all issuers, and would level the playing field for issuers trying to compete for capital and provide benefits to investors by providing more time for them to make an investment decision.
STA files letter with SEC on no-action relief; MiFID II
STA believes that a meaningful number of market participants anticipate the Commission granting an extension on the existing “no-action” relief. Therefore, a decision to allow the relief to expire in July 2020 risks to be highly disruptive if firms are not provided adequate time to adjust to the regulatory regime. Expiration would have a particular impact on those broker-dealers who may decide to register their research departments as investment advisers to accommodate cash payments.
Women in Finance
brought to you by Refinitiv

STA files letter with House Subcommittee on Diversity & Inclusion
STA has long held the view that decisions need to be based on empirical data. Therefore, we are supportive of the Subcommittee’s efforts in gathering data on diversity through a variety of means like the February 27 hearing and recommend this be a core function.
Save the Date!

3rd Annual Ken Heath Award
Recognizing those men who have made a notable and
genuine contribution to the advancement of women in finance
Presentation will take place at
An Evening of Recognition & Education
Tuesday, May 21, 2019
India House (formerly Bayard's)
One Hanover Square, New York Downtown
 brought to you JonesTrading

FTT: This time it's different, or is it?
Whether it’s a government official blaming today's market structure for the extreme volatility we experienced at year end, or a whitepaper sponsored by the Department of Defense claiming investors receive inferior executions, our industry is going through a fresh assault.
Upcoming Events
 brought to you by Citadel Securities

Jay Clayton , Chairman
U.S. Securities and Exchange Commission
to present

U.S. Equity Markets:
Looking Back and Moving Forward

Friday, March 8, 2019
9:00 am - 11:00 am

Gabelli School of Business
Fordham University

STANY Selects  Foundation for Women Warriors  as 2019 President's Choice Charity
Throughout 2019 STANY will promote and fund raise for F4WW. Jodie Grenier, F4WW Executive Director is well known among STA Affiliates and her tireless work is inspirational. Look for opportunities to support STANY in its efforts.
STA in the News
brought to you by Forefront Communications

"However, Jim Toes, President and CEO of the Security Traders Association, does not assume that the change in plan processors will equate to another significant extension to the deadline."
STA 86th Annual Market Structure Conference
 October 2-4, 2019
JW Marriott, Washington DC
Media Inquiries
Mark Dowd
Forefront Communications Group