Exchanges aim to curb insider trading
The SEC is considering an agreement reached among the securities industry’s self-regulatory organizations that is designed to better spot insider trading.
The SEC is considering an agreement reached among the securities industry’s self-regulatory organizations that is designed to better spot insider trading. The proposal, which would centralize surveillance, investigation and enforcement under NYSE Regulation Inc. of New York and the Financial Industry Regulatory Authority Inc. of New York and Washington, aims to eliminate gaps and duplication in surveillance for insider trading in the equities markets. Currently, each equity exchange is responsible for watching trading on its market and any investigations and enforcement actions involving its members. Comments were due last month. For a look at the proposal, go to sec.gov/rules/other/2008/34-58350.pdf.
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