DOJ Antitrust Unit Urges Caution in SEC Stock Market Revamp
- Justice Department asks SEC to consider how proposals interact
- Antitrust officials sent comment letter to SEC on agency plan
SEC headquarters in Washington, DC.
Photographer: Graeme Sloan/BloombergThis article is for subscribers only.
Top Justice Department antitrust officials are taking the unusual step of urging Wall Street’s main regulator to proceed with caution on a suite of proposals to overhaul the plumbing of equities markets.
The US Securities and Exchange Commission in December unveiled plans for the most sweeping overhaul of Wall Street stock-trading in more than a decade through a series of four proposals. Many industry players have called on the financial regulator to consider how the various proposals interconnect with each other before moving forward, with some asking the SEC to phase in the rules slowly or not move forward with some of them at all.