Free Site Registration

SEC Goes Soft On Hard Close'

Traders Magazine, April 2004

Gregory Bresiger

Faced by widespread opposition from politicians and hundreds of investors, the Securities and Exchange Commission is taking a closer look at watering down a controversial proposal designed to prevent after-hours stock-trading abuses. The so-called hard close' plan could see the light with approaches that are softer than the original proposal. That proposal would require mutual funds and other big investors - instead of third parties - to receive trades by 4 p.m. in order to get that day's price. The new approaches include an electronic time stamp to verify the price and time of trades.

Get access to this article and thousands more...

All articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.

Already Registered?