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November 2019
On behalf of the STA Board and all STA Affiliates, we wish you and your families a safe and very Happy Thanksgiving.

"All great change in America begins at the dinner table."
-Ronald Reagan
From the Hill

SEC Announces Extension of Temporary Measure to Facilitate Cross-Border Implementation of the European Union's MiFID II's Research Provisions
Today the staff of the U.S. Securities and Exchange Commission issued an extension of an Oct. 26, 2017 no-action letter it provided to assist market participants regarding their U.S.-regulated activities as they engage in efforts to comply with the provisions relating to research in the Markets in Financial Instruments Directive II (MiFID II) and related implementing rules and regulations. 
SEC Announces Conference on Macroeconomic and Structural Trends and Dynamics Affecting the Capital Markets
The Securities and Exchange Commission today announced that it will host a conference on Dec. 4 entitled “The State of Our Securities Markets.” The conference will bring together current and former government officials and experts from different areas of the private sector to explore and discuss the ever-changing economic, risk and market environment and what those changes mean for the structure and function of the securities markets.
Comment Letters on Odd Lots
Securities Information Processor (“SIP”) Operating Committees are considering a proposal for the SIPs to disseminate certain consolidated odd lot quotation data as ancillary information on the SIP data feeds. They are seeking feedback on the below draft proposal.
CFTC Approves Amendments Simplifying Rules for Asset Managers at November 25 Open Meeting
On a 4-1 vote, the Commission approved amendments to Rules 4.7, 4.13 and 4.14 (Codification of Relief for Family Offices and Relief Related to the JOBS Act), that will exempt certain commodity pool operators (CPOs) meeting the definition of “Family Office” from certain registration requirements.
Open Call Report

ETF Rule

On Monday, Nov. 4, STA hosted an open call with Invesco's Eric Pollackov to discuss the "ETF Rule," adopted by the SEC in September 2019. Designed to improve ETF regulation, it applies to securities covered under the Investment Company Act of 1940 and aims to streamline the conditions around exemptive relief, making it easier for companies to bring their ETFs to market.
STA's Job Re-entry Program
Take the STAR 10:1 Challenge

For every ten donations of $20 to the STA Foundation,
STAR will offer one prize.
Yes, one winner for every 10 donations.

Drawing will be held Monday, Dec. 9.
Winners will be contacted to select their prize.

STAR, or STA's Job Re-entry Program, is a new initiative
that assists individuals who have been displaced from their job
and are seeking re-entry into financial services. 
STA Women in Finance
Giving Thanks to Our Colleagues
By Julie Andress
KeyBank Capital Markets
STA WIF Co-Chair

John F. Kennedy said, “As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.” We should feel gratitude for being able to do what we enjoy and for those around us. But when we express gratitude, it should include an action on our part.
Event Notice
Denver Logo
Denver STA 49th Annual Convention
Thursday, December 5, 2019
4:00 pm - 8:00 pm

Moe's Original Bar B Q
395 S. Broadway
Englewood, CO

IntelligentCross Gives Thanks by Giving Back

With Thanksgiving just around the corner, this time of year calls for reflection, mindfulness and generosity. Most of us will enjoy bountiful meals and joyous reunions with family, and with these experiences comes the responsibility to remember those who are less fortunate.

In honor of Giving Tuesday, all net profits from trades executed on IntelligentCross on Dec. 3 will benefit Tuesday’s Children, an organization that provides healing and resources for children and others whose lives have been impacted by terrorism or traumatic loss. 
STA in the News
brought to you by Forefront Communications

Reinvigorating U.S. Equity Markets: STA’s Jim Toes on IPOs & Liquidity
Increasingly, firms are bypassing the public markets and remaining private longer, raising questions about the effectiveness of U.S. equity market structure and the health of the markets. Jim Toes, President and CEO of the Security Traders Association, and TABB Group founder and research chairman Larry Tabb, look at how to encourage more companies to go public as well as how to create more liquidity for thinly-traded stocks.
Check out Photo Album

STA 86th Annual Market Structure Conference:
Realizing Opportunity
STA Student in Finance Membership

STA has created a new membership classification for full-time undergraduate and postgraduate students called  Student in Finance , or “STA SIF . STA SIF Membership is FREE and is ideal for students who want to be informed on topics and issues within the financial services industry and to connect with securities industry professionals.

If you have or know a student who wants to take their first step towards the financial services industry, have them apply today!
Media Inquiries
Sam Belden
Forefront Communications Group