The Securities and Exchange Commission, under new leadership, faces pressure to revise communication rules seen as costly and outdated by Wall Street. SIFMA urges modernizing the rules to reflect current technology and ease compliance burdens, proposing reforms such as excluding trivial exchanges and standardizing retention periods.

Previously, the SEC fined firms for off-channel communications violations, resulting in over $2.2 billion in penalties. However, recent enforcement claims have dropped by nearly 50%, focusing more on investor fraud. SIFMA’s push for rule changes aligns with the current SEC’s business-friendly approach and may find support from Chair Atkins.

Read more at Yahoo Finance: Should the SEC Ease the Communications Rule?