SEC Amends Disclosure Requirements Related to NMS Stock Orders

The SEC has released a final rule to amend Regulation NMS, Rule 605, which governs the disclosure requirements related to national market system (NMS) stocks (i.e., “stocks listed on a national securities exchange”). According to SEC Chair Gary Gensler, the purpose of the amendments is to “improve transparency for execution quality and facilitate investors’ ability to compare brokers, thereby enhancing competition in our markets.”

For more information, see the press release and fact sheet — as well as the statements by SEC Chair Gary Gensler and Commissioners Caroline Crenshaw, Jaime Lizárraga, Hester Peirce, and Mark Uyeda — on the SEC’s Web site.