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More Leeway on Reg NMS for Preferred Stock

Traders Magazine, March 2008

Peter Chapman

The Securities and Exchange Commission is likely to exempt nonconvertible preferred stock from Regulation NMS's order-protection rule. SEC staff recommended that the lightly traded securities be exempted last summer, sources close to the regulator say. If the security is exempted, it would be the 14th exemption or exception to the trade-through rule the SEC has granted.

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