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SEC expands the definition of “dealer” and “government securities dealer” to include additional entities
Publication date: 06 Feb 2024
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SEC expands the definition of “dealer” and “government securities dealer” to include additional entities
On February 6, the SEC adopted new rules that broaden the definitions of “dealer” and “government securities dealer” to capture additional market participants, including those that buy and sell government securities for their own account as well as those that provide significant market liquidity, such as certain hedge funds. This means these entities will need to register as dealers and be subject to the SEC’s broker-dealer regulations and Financial Industry Regulatory Authority (FINRA) rules.
On February 6, the SEC adopted new rules that broaden the definitions of “dealer” and “government securities dealer” to capture additional market participants, including those that buy and sell government securities for their own account as well as those that provide significant market liquidity, such as certain hedge funds. This means these entities will need to register as dealers and be subject to the SEC’s broker-dealer regulations and Financial Industry Regulatory Authority (FINRA) rules.
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