The SEC proposed to rescind the "trade-through" prohibition for national market system stocks and the "access to quotations" rule on "locking and crossing quotations."

In a 6-3 decision, the Supreme Court held that the Investment Company Act does not give private parties an implied right to sue for rescission of contracts that allegedly violate the Act.

SEC Commissioner Hester Peirce announced she will leave the agency in November. Her departure will leave the Commission with two members.

SEC Corporation Finance Division Director Jim Moloney hlghlighted two pending SEC proposals that would (i) give smaller public companies access to shelf registration and (ii) raise the public-float threshold that triggers the most demanding disclosure obligations.

Former CFTC Chair Gary Gensler urged a federal appeals court to reject the argument that Dodd-Frank made the CFTC a national sports-betting regulator and preempted state gaming laws, contending that sports bets are not swaps.