On December 11, 2025, the Securities and Exchange Commission published a final rule in the Federal Register adopting technical amendments to various forms under the Securities Exchange Act of 1934. These changes correct the address of the Commission's principal office, updating it from 450 Fifth Street NW to 100 F Street NE in Washington, DC. The amendments affect six specific forms used in securities market regulation, ensuring that filers reference the current headquarters location. This development, effective immediately upon publication, stems from the agency's relocation two decades ago and highlights ongoing efforts to maintain precision in administrative details. It underscores the importance of accurate information in federal regulatory processes, potentially reducing minor errors in submissions without impacting broader market operations.
Background of the Amendments
The Securities and Exchange Commission moved its principal office to 100 F Street NE, Washington, DC 20549, in 2005 as part of a consolidation of its facilities. However, several forms under the Exchange Act retained references to the previous address at 450 Fifth Street NW. This oversight persisted for years, creating a discrepancy between the forms' instructions and the agency's actual location. The amendments address this issue directly, as outlined in Federal Register Volume 90, Number 236, where the Commission states that the changes are 'technical corrections to certain Commission forms with respect to the Commission's address in Washington DC.' No public comment period was required, given the non-substantive nature of the updates, which fall under the agency's authority to make administrative adjustments.
Key players in this process include SEC staff from the Division of Trading and Markets, specifically Assistant Directors Justin Pica and Tyler Raimo, who are listed as contacts for further information. The rule was issued under the statutory authority of Section 23(a) of the Exchange Act, which empowers the Commission to adopt rules necessary for carrying out its functions. This section has been invoked in prior technical amendments, such as those correcting typographical errors or updating references in regulatory documents, emphasizing efficiency over policy shifts.
Affected Forms and Specific Changes
The amendments target six forms critical to securities regulation. Form 1, used for the registration of national securities exchanges, now directs submissions to the updated address in its instructions under section A.8. Similarly, Form 1-N, which applies to notices of registration as a national securities exchange or exemption from registration, incorporates the same correction.
Form R31, related to reporting requirements for registered broker-dealers, updates section B.8 of its instructions to reflect the new address. Forms ATS and ATS-R, governing alternative trading systems, amend section A.5 to change the mailing address for filings. Finally, Form PILOT, used for reporting on pilot trading systems, revises section A.5 accordingly.
These forms are referenced in the Code of Federal Regulations under 17 CFR Part 249, but the amendments themselves do not alter the CFR text, as noted in the Federal Register entry. Instead, they modify the forms' content directly, ensuring consistency. For instance, the entry specifies removing '450 Fifth Street NW, Washington, DC 20549' and replacing it with '100 F Street NE, Washington, DC 20549' across the affected documents.
Legal and Administrative Context
From a legal standpoint, these amendments align with precedents for technical corrections under the Administrative Procedure Act, which allows agencies to bypass notice-and-comment rulemaking for non-substantive changes. Similar updates have occurred in the past, such as the SEC's 2011 amendments to forms correcting electronic filing instructions, demonstrating a pattern of maintaining form accuracy without broader regulatory overhaul.
Politically, this action reflects the Commission's focus on operational efficiency amid broader priorities like market integrity and investor protection. No significant external forces appear at play, as the changes are internal and administrative. Perspectives vary: regulatory compliance experts may view this as a welcome fix to prevent confusion in filings, while critics of bureaucratic processes might see it as evidence of delayed housekeeping. Industry groups, such as the Securities Industry and Financial Markets Association, have not publicly commented, likely due to the amendments' limited scope.
Implications for Stakeholders
In the short term, these amendments ensure that entities filing with the SEC use the correct address, potentially reducing rejected submissions or mail delays. For brokers and exchanges, this means updated guidance in forms that are integral to operations, like Form ATS for alternative trading systems, which handle significant trading volume.
Long-term implications include reinforced trust in the accuracy of federal forms, which could indirectly support compliance efforts. However, the changes do not introduce new requirements or costs, as confirmed by the absence of any economic analysis in the Federal Register entry. Different viewpoints emerge here: proponents argue it exemplifies proactive governance, while skeptics might question why the correction took 20 years, pointing to potential inefficiencies in agency administration.
Forward-Looking Conclusion
This technical amendment serves as a reminder of the need for meticulous updates in regulatory infrastructure. Potential next steps could involve periodic reviews of all SEC forms to identify similar outdated elements, fostering greater administrative precision. Ongoing debates may center on balancing such minor fixes with pressing issues like cybersecurity in markets or evolving fintech regulations, highlighting the challenge of resource allocation within federal agencies.
