How does an SRO propose a new rule?

1. AIt must be submitted to the SEC for public comment and approval✓ Correct answer
2. BBy posting it on its website immediately
3. CBy requesting a vote from its members
4. DBy approval from the U.S. Congress

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• Which best describes the purpose of SROs’ ethical standards?
• Which SRO is most closely associated with regulating over-the-counter (OTC) markets?
• What can an SRO do to ensure compliance among its members?
• Which of the following is NOT typically covered by SRO rules?