SEC Approves Amendments Permitting FINRA Trading-Pause Pilot Program

Posted on June 18, 2010 by Daren R. Domina

Co-authored by Louis Froelich

On June 10, the Financial Industry Regulatory Authority began a pilot program in which it will halt trading otherwise than on an exchange with respect to securities included in the S&P 500 Index where the primary listing market has issued a trading pause due to extraordinary market volatility. The pilot program is part of a coordinated effort among FINRA, the Securities and Exchange Commission and other self-regulatory organizations to provide for a coordinated means to address potentially destabilizing market volatility and will end on December 10, 2010. FINRA said that it anticipates these trading-pause rules will soon be expanded to include additional securities, such as exchange-traded funds, within the pilot period.

Click here to read FINRA Regulatory Notice 10-30.

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