Decimalization Revisited: Does Every Penny Count?

Law360, New York (May 24, 2013, 1:15 PM EDT) -- The Jumpstart Our Business Startups Act of 2012 (JOBS Act), Section 106(b) enacted on April 5, 2012, directed the U.S. Securities and Exchange Commission to conduct a study examining “decimalization” — the system where security prices are quoted in one cent increments using a decimal format, as opposed to fractions — and its impact on initial public offerings and the liquidity of small and mid-cap company securities.

The goal of this study was to determine the optimal incremental measure, or “tick size,” for stock prices and...
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