On July 15th, the SEC announced that it is updating its rulemaking related to delegating authority to the agency’s staff in order to continue updating these rules, align more closely with the way the SEC conducts business, and more efficiently use the SEC’s resources. The final rule updates and modernizes how certain responsibilities are delegated to staff so the agency can operate more efficiently.
The rule adoption implements the following changes:
- Registration Authority Modifications - registration tasks for brokers, dealers, municipal advisors, investment advisers, transfer agents, and swap entities shift from the Division of Examinations to the EDGAR Business Office to enhance efficiency
- Municipal Securities Authority - the Office of Municipal Securities’ authority has been broadened, and it now may cancel municipal securities dealer registrations, aligning its powers with other related delegations
- Technical Corrections - revisions to Rules 430 and 431 simplify how delegated actions may be reviewed by the SEC, while lesser corrections reflect the current organizational framework
For further details, please see the Modernization of Delegations of Authority to Commission Staff final rule on sec.gov. The final rule has been published in the Federal Register and will be effective on July 26, 2026.
Sources:
Modernization of Delegations of Authority to Commission Staff (sec.gov)
Final Rule (sec.gov)
