ASA Calls on SEC to Delay Comment Timeline for Market Structure Proposals
Industry needs adequate time to consider the enormity of combined proposals
WASHINGTON, D.C. – Today, the American Securities Association (ASA) sent a letter to the U.S. Securities and Exchange Commission (SEC) requesting an extension to submit public comments for four rulemakings related to market structure.
“Collectively, the proposals represent a major overhaul of the equity market structure, and the interplay between and among the proposals will significantly affect the way markets operate,” ASA General Counsel Jessica Giroux said. “We implore the Commission to provide adequate time to respond so the industry can provide necessary information to the SEC about the real impact of these policies. It is imperative the SEC stop advancing a policy agenda without first listening to the industry.”
Over the last several years, the SEC has issued over 40 proposals without giving the industry ample time to respond.