June 4, 2025
Contact: IAA VP of Communications & Marketing Janay Rickwalder
The IAA thanks Representative Troy Downing (R-MT) and Representative Cleo Fields (D-LA) for introducing the Protecting Private Job Creators Act. Applying Rule 15c2-11 to fixed income markets could restrict quoting activity, leading to reduced liquidity and transparency. This would make it more difficult for investment advisers to trade efficiently and manage risk for their clients. While the SEC has provided exemptive relief, this bill would offer much-needed, lasting clarity for the bond market on this issue.
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