SEC Reopens Comment Period for Proposed Amendments to Exchange Act Rule 3b-16 and Provides Supplemental Information

The U.S. Securities and Exchange Commission, SEC, has published a press statement to announce the upcoming reopening of the comment period as regards its consultation on rule ATS (Alternative Trading Systems) modifications. Specifically, it will reopen the comment period for another 30 days on proposed modifications to rule ATS to bring „communication protocol systems“ that trade U.S. Treasuries and other (government) securities under the regulatory umbrella of ATS (Alternative Trading Systems). The change would involve the requirement to register with the SEC, set out policies and procedures to ensure fair access, and to make certain disclosures.
In the reopening statement, the Commission has now included additional information and analysis as regards the application of the proposed rule changes towards crypto assets trading systems and Decentralized Finance (DeFi) systems, following corresponding inquiries by respondents to the initial consultation.