ASA Urges SEC to Extend Market Data Infrastructure Comment Period
This is an important rulemaking that deserves thoughtful input from all stakeholders
WASHINGTON – The American Securities Association (ASA) today sent a letter to the Securities and Exchange Commission (SEC) urging the Commission to extend its market data infrastructure proposal comment period for an additional 60 days due to the ongoing COVID-19 pandemic.
“We appreciate the SEC moving forward to modernize our nation’s market infrastructure and make much needed improvements that should benefit all American investors,” said ASA CEO Chris Iacovella. “This is an important rulemaking that deserves thoughtful input from all stakeholders, and given the unprecedented crisis our country is going through, we urge the SEC to extend the comment period.”
“Although the current comment period is not set to expire until the end of May, few medical experts expect the pandemic to be over or business operations to be back to normal by that time,” Iacovella wrote in the letter. “For those market participants who lack a team of lawyers and experts specifically devoted to market structure that could read and quickly analyze the Commission’s proposed rule, a comment period longer than 60 days would be necessary.”
“The proposal seeks to improve fundamental pillars of our current market structure and we would appreciate any extension of time to thoughtfully and more fully provide comment on the impacts of these improvements,” Iacovella wrote.
To read the full letter to the Commission, click here.
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