SEC & CFTC Enforcement
Material regulatory developments from U.S. Securities and Exchange Commission and Commodity Futures Trading Commission are tracked daily by Cresthaven Analytics. Over the last 90 days, 20 material briefs relevant to professionals operating in the financial & capital markets sector have been published below. Each brief is sourced directly from the primary regulatory feed, summarized for institutional readers, and scored for materiality.
Recent material activity
A selection of recent published briefs; this is not a complete archive.
NYSE National files immediately effective rule change amending clearly erroneous execution standards under Rule 7.10
NYSE National, Inc. filed a proposed rule change with the SEC on September 24, 2026, effective immediately upon filing, to amend Rule 7.10, which governs clearly erroneous execution determinations. The amendment adjusts …
Read the full SEC & CFTC Enforcement brief →NYSE Texas amends clearly erroneous execution rule with immediate effectiveness
NYSE Texas, Inc. has amended its clearly erroneous executions rule, effective immediately upon filing. The amendment updates the procedures under which the exchange may review and nullify trades determined to be clearly …
Read the full SEC & CFTC Enforcement brief →Texas Stock Exchange files immediate-effectiveness rule change modifying order processing during regulatory halts and auction mechanics
The SEC published a TXSE proposed rule change on September 24, 2026, effective upon filing. The rule modifies order handling during regulatory halts and adjusts mechanics for IPO auctions, halt auctions, and volatility c…
Read the full SEC & CFTC Enforcement brief →SEC extends review period for Cboe proposed rule on stop-limit complex orders and stop complex order auctions
The SEC designated an extended review period on September 24, 2026 for a Cboe Exchange proposed rule change. The proposal would accommodate stop-limit complex orders and establish stop complex order auctions as a new auc…
Read the full SEC & CFTC Enforcement brief →FINRA files immediate-effectiveness rule change to temporarily pause the Trading Activity Fee
FINRA filed a proposed rule change on September 23, 2026, effective immediately upon filing, to temporarily pause assessment of the Trading Activity Fee. The pause suspends the per-share and per-contract fee that member …
Read the full SEC & CFTC Enforcement brief →FINRA files immediate-effectiveness rule change to delay implementation of Schedule A By-Laws fee amendments
FINRA filed a proposed rule change on September 23, 2026, with immediate effectiveness, to extend the implementation schedule for Schedule A By-Laws amendments adopted in two prior proceedings. The substantive fee-struct…
Read the full SEC & CFTC Enforcement brief →Cboe BYX Exchange amends Rule 11.15(a) to permit non-members to serve as clearing firms
Cboe BYX Exchange filed a proposed rule change, effective immediately upon filing, clarifying that a non-member may act as a clearing firm under its rules. The amendment resolves an ambiguity in the existing clearing-fir…
Read the full SEC & CFTC Enforcement brief →Cboe EDGX amends overnight session rules to require separate clearing guarantees and redefine clearing firm eligibility
Cboe EDGX Exchange amended its clearing and order-entry rules for the overnight trading session, with the rule change taking effect immediately upon filing on September 23, 2026. The amendment replaces the prior clearing…
Read the full SEC & CFTC Enforcement brief →Cboe BZX Exchange amends Rule 11.15(a) to permit non-members to serve as clearing firms
Cboe BZX Exchange has amended Rule 11.15(a) to clarify that a non-member entity may act as a clearing firm for transactions on the exchange. The filing took effect immediately upon submission.
Read the full SEC & CFTC Enforcement brief →Cboe EDGA amends clearing rule to adopt qualified clearing agency standard and permit non-member clearing firms
On September 23, 2026, the SEC granted immediate effectiveness to a Cboe EDGA Exchange rule change amending its order execution and routing rule. The amendment replaces the prior registered clearing agency standard with …
Read the full SEC & CFTC Enforcement brief →NYSE Arca amends clearly erroneous execution rule under immediate effectiveness procedure
NYSE Arca has filed a proposed rule change amending its clearly erroneous executions rule, effective immediately upon filing with the SEC. The amendment modifies the standards or procedures governing when NYSE Arca may n…
Read the full SEC & CFTC Enforcement brief →SEC accepts KalshiEX rule change establishing listing standards for security futures products
KalshiEX LLC filed proposed listing standards for security futures products on September 23, 2026, and the SEC granted immediate effectiveness the same day. This marks KalshiEX's formal entry into security futures, a pro…
Read the full SEC & CFTC Enforcement brief →NYSE amends Rule 7.10 on clearly erroneous executions via immediate-effectiveness filing
NYSE filed a proposed rule change on September 22, 2026, amending Rule 7.10, which governs clearly erroneous execution reviews. The filing took immediate effectiveness under the self-regulatory organization expedited pro…
Read the full SEC & CFTC Enforcement brief →Nasdaq PHLX adopts Options 10 Section 27 governing member influence over employees of other firms
Nasdaq PHLX LLC filed a proposed rule change, effective immediately upon filing, to adopt Options 10, Section 27, titled Influencing or Rewarding Employees of Others. The rule establishes conduct standards for PHLX membe…
Read the full SEC & CFTC Enforcement brief →SEC approves MSRB amendments to Rule G-27 narrowing supervision scope for public finance activities and branch office designation
The SEC approved amendments to MSRB Rule G-27 on September 21, 2026. The amendments exclude certain public finance activities from the definition of 'structuring of public offerings or private placements,' extend the non…
Read the full SEC & CFTC Enforcement brief →SEC acknowledges Nadex notice of registration as a national securities exchange under Exchange Act Section 6(g)
The SEC published an acknowledgement of receipt on September 21, 2026, confirming that Nadex (North American Derivatives Exchange, Inc.) filed a notice of registration as a national securities exchange. This filing initi…
Read the full SEC & CFTC Enforcement brief →SEC grants accelerated approval to OCC rule change governing interest payments on margin cash
The SEC issued an accelerated approval order on September 21, 2026, covering a proposed rule change by the Options Clearing Corporation concerning interest paid on margin cash deposits. The order incorporates Partial Ame…
Read the full SEC & CFTC Enforcement brief →IEX files immediate-effectiveness rule change to correct internal inconsistencies in options Rule 22.260 before platform launch
IEX filed a technical correction to Rule 22.260 on September 21, 2026, taking immediate effect. The filing resolves internal inconsistencies in the rule ahead of the IEX Options platform launch. It is a preparatory step,…
Read the full SEC & CFTC Enforcement brief →Nasdaq Texas files immediately effective rule amendments to qualify as a primary listing venue
Nasdaq Texas, LLC's proposed amendments to Equity 1 and Equity 4 took immediate effect on September 21, 2026, after the SEC granted effectiveness without delay. The amendments establish the structural rule framework requ…
Read the full SEC & CFTC Enforcement brief →SEC accepts immediate-effectiveness amendment adding MX2 LLC as a Consolidated Audit Trail participant
The SEC filed and granted immediate effectiveness to an amendment to the CAT NMS Plan on September 21, 2026. The amendment adds MX2 LLC as a new participant to the Consolidated Audit Trail.
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