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...
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