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Sidley publishes analysis of SEC tokenized-stock trading exemption
Sidley Austin published an update analyzing the SEC’s innovation exemption for on-chain trading of tokenized U.S.-listed shares. The firm’s publication addressed issuers, investors, brokers, trading venues and liquidity providers, and examined operational conditions and questions involving custody, execution, disclosures and shareholder rights.
Key points
- Sidley’s article discussed notice to issuers and an opportunity to object to third-party tokenization.Sidley Austin
- The publication examined symbol and volume limits for qualifying trading venues.Sidley Austin
- Sidley discussed the interaction with existing broker-dealer and investment-company obligations.Sidley Austin
- The firm credited knowledge management lawyer Daniel Engoren with contributing to the update.Sidley Austin