SEC adopts groundbreaking broker-dealer rule in US Treasury Market

New rules require firms that routinely deal in US government bonds to register as broker-dealers and face stricter oversight.

The SEC has adopted two rules that represent the biggest overhaul of the Treasury market in decades, market participants say.

They require market participants who engage in certain dealer roles, in particular those who take on significant liquidity-providing roles in the markets, to register with the SEC, become members of

Free Trial

Register for free to keep reading.

To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.

  • Unlimited access to industry insights
  • Stay on top of key rules and regulatory changes with our Rules Navigator
  • Ad-free experience with no distractions
  • Regular podcasts from trusted external experts
  • Fresh compliance and regulatory content every day
Register for free Already a member? Sign in