Stay up-to-date with the latest developments in securities law through access to both news and all statutes and regulations. Find relevant corporate filings through a searchable EDGAR database. And...
The SEC is looking to hear how to improve equity market structure in a series of roundtable discussions this year, agency Chairman Jay Clayton said April 10.
The Securities and Exchange Commission’s first talk will focus on the market for small companies with thinly traded stocks April 23, Clayton said in remarks at a Security Traders Association and University of Chicago Booth School of Business symposium in Chicago. Other discussions will center on investor access to markets and market data, and fighting retail fraud, including in the cryptocurrency space, he said.
The new initiative will help the SEC see what rulemaking the agency may need to consider, Clayton said. The commission will use the sessions to review suggestions from its Equity Market Structure Advisory Committee, the Treasury Department’s capital markets report on streamlining regulations, and other sources, he said. The SEC will invite people to speak at the talks and accept submissions from the public about the topics discussed, the chairman said.
“Many of the issues that I have touched on today are complicated, and will be challenging to address,” Clayton said. “But these challenges are our opportunities. The time is right to take stock of the universe of information, data, and perspectives.”
Brett Redfearn, director of the SEC’s Division of Trading and Markets, said at the same event that he expects a pilot program that lets some small-cap stocks trade at wider increments to end as scheduled in October, drawing some applause.
The “tick size” pilot, which applies to companies with $3 billion or less in market capitalization, seeks to determine whether market quality and liquidity in small-cap securities would improve under changes tested in the program.
“This is an example of a pilot that has the ability to provide us with much useful data, but also one that may demonstrate that a policy solution worth exploring is not necessarily a policy solution that makes sense for the long haul,” Redfearn said.
To contact the reporter on this story: Andrew Ramonas in Washington at email@example.com
To contact the editor responsible for this story: Seth Stern at firstname.lastname@example.org
Copyright © 2018 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)