SEC Head White Demands Reforms After Nasdaq Glitch

Law360, New York (September 12, 2013, 6:05 PM EDT) -- U.S. Securities and Exchange Commission Chairman Mary Jo White on Thursday ordered the nation’s stock exchanges to undertake a series of reforms intended to make markets safer in the wake of an Aug. 22 technology glitch that paralyzed trading on the Nasdaq.

Following a closed-door meeting Thursday morning with the heads of U.S. exchanges, White announced a series of reforms that include the implementation of “kill switches” designed to shut down trading in an emergency. The meeting addressed issues that arose during the Nasdaq incident, when...
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