Citadel Squares Off With Pimco Over 48-Hour Bond Reporting Delay
- Griffin’s firm wants Finra to scrap study of delayed reporting
- Pimco among firms that argue current rules hurt liquidity
Ken Griffin
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
A fight is brewing between financial industry heavyweights with Citadel urging regulators to scrap a proposed review of whether the disclosure of big bond trades should be delayed, pitting billionaire Ken Griffin’s firm against investment giants including Pacific Investment Management Co.
The friction is focused on a Financial Industry Regulatory Authority proposal to study the impact of giving investors 48 hours before having to reveal their large corporate bond trades to other market participants. The effort would help Finra examine whether current rules, which require that so-called block trades be reported within 15 minutes, deter buying and selling.