{"id":4482,"date":"2024-02-07T00:20:43","date_gmt":"2024-02-07T00:20:43","guid":{"rendered":"https:\/\/mcintyrelf.com\/?p=4482"},"modified":"2024-02-07T00:20:43","modified_gmt":"2024-02-07T00:20:43","slug":"traders-now-may-be-dealers-under-secs-new-dealer-rules","status":"publish","type":"post","link":"https:\/\/mcintyrelf.com\/traders-now-may-be-dealers-under-secs-new-dealer-rules\/","title":{"rendered":"Traders Now May Be Dealers Under SEC\u2019S New Dealer Rules"},"content":{"rendered":"<p><a href=\"\/wp-content\/uploads\/2024\/02\/Mcintyre-Lemon-Traders-Now-May-Be-Dealers-Under-Secs-New-Dealer-Rules.pdf\" target=\"_self\" style=\"font-size: 11px;float:none;display:table;margin:auto;\" class=\"dwnldpdf mkd-btn mkd-btn-medium mkd-btn-solid mkd-btn-icon mkd-blog-read-more\" rel=\"noopener\" download>    <span class=\"mkd-btn-text\">Download PDF<\/span><span class=\"mkd-btn-icon-holder\">            <span aria-hidden=\"true\" class=\"mkd-icon-font-elegant arrow_carrot-right mkd-btn-icon-elem\"><\/span>            <span aria-hidden=\"true\" class=\"mkd-icon-font-elegant arrow_carrot-right mkd-btn-icon-elem\"><\/span>        <\/span>    <\/a><\/p>\n<iframe loading=\"lazy\" class=\"wonderplugin-pdf-iframe\" src=\"https:\/\/mcintyrelf.com\/wp-content\/plugins\/wonderplugin-pdf-embed\/pdfjslight\/web\/viewer.html?v=2&file=\/wp-content\/uploads\/2024\/02\/Mcintyre-Lemon-Traders-Now-May-Be-Dealers-Under-Secs-New-Dealer-Rules.pdf\" width=\"100%\" height=\"1400px\" style=\"border:0;\"><\/iframe>\n","protected":false},"excerpt":{"rendered":"<p>In  a  3-2  split  vote  at  today\u2019s  open  meeting,  the  Securities  and  Exchange  Commission  (\u201cSEC\u201d  or  \u201cCommission\u201d),<br \/>\nadopted controversial new rules that establish a liquidity or revenue test as part of a regular dealer business under<br \/>\nthe  Securities  Exchange  Act  of  1934  (\u201cExchange  Act\u201d).  That  is,  the  tests  prescribed  by  the  new  dealer  rules  are<br \/>\nintended to capture so-called \u201cliquidity providers\u201d primarily focused on the Treasury markets but they also sweep<br \/>\nin  certain  traders  in  the  equity  markets. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[63,67],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Traders Now May Be Dealers Under SEC\u2019S New Dealer Rules - McIntyre &amp; Lemon:<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mcintyrelf.com\/traders-now-may-be-dealers-under-secs-new-dealer-rules\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Traders Now May Be Dealers Under SEC\u2019S New Dealer Rules - McIntyre &amp; Lemon:\" \/>\n<meta property=\"og:description\" content=\"In a 3-2 split vote at today\u2019s open meeting, the Securities and Exchange Commission (\u201cSEC\u201d or \u201cCommission\u201d),  adopted controversial new rules that establish a liquidity or revenue test as part of a regular dealer business under  the Securities Exchange Act of 1934 (\u201cExchange Act\u201d). That is, the tests prescribed by the new dealer rules are  intended to capture so-called \u201cliquidity providers\u201d primarily focused on the Treasury markets but they also sweep  in certain traders in the equity markets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mcintyrelf.com\/traders-now-may-be-dealers-under-secs-new-dealer-rules\/\" \/>\n<meta property=\"og:site_name\" content=\"McIntyre &amp; Lemon:\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/web.facebook.com\/mcintyrelf\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-07T00:20:43+00:00\" \/>\n<meta name=\"author\" content=\"Anthony Angell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@mcintyrelemon\" \/>\n<meta name=\"twitter:site\" content=\"@mcintyrelemon\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anthony Angell\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mcintyrelf.com\/traders-now-may-be-dealers-under-secs-new-dealer-rules\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/mcintyrelf.com\/traders-now-may-be-dealers-under-secs-new-dealer-rules\/\"},\"author\":{\"name\":\"Anthony Angell\",\"@id\":\"https:\/\/mcintyrelf.com\/#\/schema\/person\/f478e007dae0ec65981f4d2623e2288b\"},\"headline\":\"Traders Now May Be Dealers Under SEC\u2019S New Dealer Rules\",\"datePublished\":\"2024-02-07T00:20:43+00:00\",\"dateModified\":\"2024-02-07T00:20:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mcintyrelf.com\/traders-now-may-be-dealers-under-secs-new-dealer-rules\/\"},\"wordCount\":25,\"publisher\":{\"@id\":\"https:\/\/mcintyrelf.com\/#organization\"},\"articleSection\":[\"Client Alerts\",\"Securities Regulation\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mcintyrelf.com\/traders-now-may-be-dealers-under-secs-new-dealer-rules\/\",\"url\":\"https:\/\/mcintyrelf.com\/traders-now-may-be-dealers-under-secs-new-dealer-rules\/\",\"name\":\"Traders Now May Be Dealers Under SEC\u2019S New Dealer Rules - McIntyre &amp; 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