SEC Gets Backing In Exchange Fee Spat At DC Circ.

By Rachel Graf (August 2, 2019, 3:58 PM EDT) -- The U.S. Securities and Exchange Commission has received backing from five different entities in its bid to fight off a challenge before the D.C. Circuit to its two-year pilot program that could cap the fees major exchanges receive.

The investment bank RBC Capital Markets LLC, securities exchange Investors Exchange LLC and investor groups Better Markets Inc., Investment Company Institute and Council of Institutional Investors said Thursday the New York Stock Exchange LLC, Nasdaq Stock Market LLC and CBOE shouldn't be able to block the pilot program.

"The transaction fee pilot is a constructive and long overdue first step toward fixing an...

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