Should the SROs Do More?

Traders, April, 2001 by Staff, Editorial

The SEC wants self-regulatory organi zations to implement most trading rule changes, a move that drew mixed reactions from some industry groups.

"We commend the SEC for addressing this important issue," said New York Stock Exchange spokesman Ray Pellecchia. He declined further comment because the NYSE is drafting a comment letter on the proposal.

"We are preparing a comment letter opposing this," said Margaret Draper, spokeswoman for the Securities Industry Association, in Washington, D.C. She said SIA is concerned that condensing the SEC's SRO rule change approval process could have unforeseen consequences, and could leave firms short of time to prepare their systems for such changes.

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Release No. 34-43860 (17 CFR Parts...

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