The Chairman of the Securities and Exchange Commission, Paul Atkins, stated that the Commission continues to move forward with its “Innovation Exemptions” program following the suspension of the “CLARITY” initiative.
Key exemptions:
• Exemption for “exchange-traded funds” (ETFs/TSVs) from the definition of “exchange.”
• Exemption for certain liquidity providers from the definition of “broker.”
• Limited access only.
• No permission to trade “digitally distributed” artificial shares.
• Issuers may appeal against the trading.
The rules related to combating fraud and market manipulation remain fully in force.
Key exemptions:
• Exemption for “exchange-traded funds” (ETFs/TSVs) from the definition of “exchange.”
• Exemption for certain liquidity providers from the definition of “broker.”
• Limited access only.
• No permission to trade “digitally distributed” artificial shares.
• Issuers may appeal against the trading.
The rules related to combating fraud and market manipulation remain fully in force.
