Deals
SEC Delays Decision on Chinese Buyout of Chicago Exchange
- Agency commissioners will review politically-fraught takeover
- SEC staff said Wednesday that the sale should go through
The offices of the Chicago Stock Exchange in Chicago, Illinois.
Photographer: Scott Olson/Getty ImagesThis article is for subscribers only.
The U.S. Securities and Exchange Commission has dodged a political hot potato -- for now -- by delaying a decision on whether to approve a Chinese-led group’s controversial takeover of the Chicago Stock Exchange.
Facing a Wednesday deadline, the SEC, led by Chairman Jay Clayton, said its commissioners will review the proposed buyout, potentially setting up a vote at an unknown date on whether it should go through. The surprise announcement effectively overrode a recommendation from the regulator’s staff to give the deal the green light.