Headquarters of the U.S. Securities and Exchange Commission in Washington. Photo: Diego M. Radzinschi/ALM SEC Expands Definition of 'Dealer,' 'Government Securities Dealer'
"When dealers register, they become subject to a variety of important laws and rules that help protect the public, promote market integrity and facilitate capital formation," SEC Chair Gary Gensler said.
February 06, 2024 at 03:19 PM
3 minute read
The U.S. Securities and Exchange Commission on Tuesday adopted rules expanding the definition of who qualifies as a "dealer" or "government securities dealer," broadening the number of market participants subject to federal securities laws and regulatory obligations.
Specifically, the new rules broaden the definition of the statutory phrase "as a part of a regular business" by identifying specific activities that would make an individual a dealer or government securities dealer.
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