SEC Gives Broker-Dealers Extra Year On Flash Crash Rule

Law360, New York (April 27, 2012, 6:56 PM EDT) -- The U.S. Securities and Exchange Commission will delay by one year a rule issued in the wake of the May 2010 flash crash that would force broker-dealers to monitor their customer accounts closely and report large trading activity to regulators, the agency said Thursday.

The agency issued an order temporarily exempting some broker-dealers from a rule under the Dodd-Frank Act that had been primed to go into effect April 30. Amid opposition from some securities industry groups, the SEC said it had decided to push back...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.