SEC Proposes Increased Oversight Of Automated Trading

Law360, New York (March 7, 2013, 6:35 PM EST) -- The U.S. Securities and Exchange Commission may increase its oversight of the automated trading market after voting Thursday to seek comment on rules requiring trading companies to test and maintain their trading systems.

The SEC said it had voted 4-0 to seek comment on the new rule — called Regulation Systems Compliance and Integrity — that would make mandatory many already-existing provisions of the SEC’s automation review policy, which has been developed over the past 20 years to govern the increasingly computerized securities trading market....
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