The SEC moved broker and adviser registration orders to its EDGAR Business Office

A final rule adopted without notice and comment takes effect on July 26 and changes who at the Securities and Exchange Commission signs a registration order. Authority to issue orders granting or cancelling the registration of brokers, dealers, municipal advisors, municipal securities dealers, government securities brokers, government securities dealers and transfer agents moves from the Director of the Division of Examinations to the Director of the EDGAR Business Office. The same shift covers orders granting or cancelling investment adviser registration under the Advisers Act, certain authorities on broker or dealer reporting and assessment delinquency, and registration of security-based swap dealers and major security-based swap participants.

The Commission also gave the Director of the Office of Municipal Securities a power that office did not hold, namely cancelling the registration of a municipal securities dealer. It already had the corresponding authority for municipal advisors. The Commission found no substantive rule changed. Under the Administrative Procedure Act it treated the amendments as relating solely to agency organization, procedure or practice, which is the ground on which it skipped a comment period. Technical corrections were also made to Rules 430 and 431 of the Rules of Practice and to Rule 2 of the Rules Related to Investigations.