Infrax Systems, Inc (OTC: IFXY) / US Standard Capital Completes Acquisition of Cornerstone …
In a recent announcement, the Securities and Exchange Commission (SEC) revealed that they have approved new rules regarding the use of electronic signatures on Form 1, which is an application for registration as a national securities exchange or exemption from registration. This update is aimed at streamlining the registration process for securities exchanges and making it more efficient.
Under the new rules, applicants will now have the option to use electronic signatures when submitting Form 1 to the SEC. This change is intended to reduce the time and resources needed to complete the registration process, as well as to modernize the SEC’s procedures for accepting applications.
The SEC emphasized that electronic signatures must comply with certain requirements in order to be accepted. For example, the electronic signature must be unique to the person using it and must be able to verify the identity of the signatory. Additionally, the electronic signature must be linked to the document in such a way that any subsequent changes to the document would be detectable.
Overall, this update reflects the SEC’s commitment to embracing technology and facilitating the registration process for securities exchanges. By allowing electronic signatures on Form 1, the SEC aims to make the process more user-friendly and efficient for applicants.
