MIAX adopts rule to mirror FINRA employee-influence standards

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4, the Securities and Exchange Commission published a notice on October 2, 2026 that Miami International Securities Exchange, LLC filed a proposed rule change on September 28, 2026 (Release No. 34-106571; File No. SR-MIAX-2026-39). The filing seeks comment from interested persons.

The Exchange proposes to adopt a new Rule 1328 within Chapter 13, Doing Business with the Public, to require members and persons associated with members to comply with FINRA Rule 3220, "Influencing or Rewarding Employees of Others." The text of the proposed rule is available on the Exchange's website and at its principal office.

The filing cites Section 6(b) and Section 6(b)(5) of the Act as the statutory basis, noting that the rule is intended to promote just and equitable principles of trade, remove impediments to a free and open market, and protect investors and the public interest. Rule 1328 would apply equally to Exchange-only members and to members who are also FINRA members.

The Exchange reports that no written comments were solicited or received and that the rule does not impose any burden on competition beyond what is necessary to achieve the purposes of the Act.

Because the proposal does not significantly affect investor protection, does not impose a significant competitive burden, and becomes operative for 30 days after filing - or a shorter period the Commission may designate - it is effective immediately pursuant to Section 19(b)(3)(A)(iii) of the Act and subparagraph (f)(6) of Rule 19b-4.