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As a securities exchange, the NYSE is required to register with the U.S. Securities and Exchange Commission (the “SEC”). As a condition of this registration, the NYSE must maintain a body of rules to regulate its member organizations and their associated persons. Such rules are designed to prevent fraudulent and/or manipulative acts and practices, promote just and equitable principles of trade, and provide a means by which the NYSE can take appropriate disciplinary actions against its membership when rule violations occur.
As a registered securities exchange, the NYSE is subject to the regulatory oversight of the SEC. Accordingly, all rules and rule amendments proposed by the NYSE must be submitted to the SEC via what is known as a 19b-4 filing. A 19b-4 filing contains the proposed rule text, its intended purpose, and its statutory basis.
Once a proposed rule change is filed with the SEC, the substance of the change is published in the Federal Register, for a prescribed period of time, giving interested parties the opportunity to comment on it. Comment letters are forwarded to the NYSE for response. If necessary, and when appropriate, the NYSE will amend the original filing in response to comment letters and resubmit the amended filing to the SEC.
Ultimately, when the SEC approves a proposed rule change, it will issue an “Approval Order” for publication in the Federal Register. Shortly thereafter, the NYSE will typically issue a corresponding Information Memo, alerting membership to the rule change, its history, and its effective date.
Review or explore the following online:
• The latest changes to the NYSE Rules
• All NYSE Rules
 Second Amended and Restated Operating Agreement of New York Stock Exchange LLC (pdf)
Amended and Restated Certificate of Incorporation of NYSE Group (pdf)
Amended and Restated Bylaws of NYSE Group (pdf)
Amended and Restated Certificate of Incorporation of NYSE Market, Inc. (pdf)
Amended and Restated Bylaws of NYSE Market, Inc. (pdf)
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