SEC backtracks on plan for real-time trade reporting

02/8/2012 | Wall Street Journal, The · Bloomberg

The Securities and Exchange Commission is tweaking its plan for a computer system to monitor trades, after criticism that the multibillion-dollar project would be too expensive. The agency won't require real-time reporting of trading information, as previously proposed in a consolidated audit trail system after the "flash crash." "We're going to be rational here because it's really important to get this basic structure in place sooner than later," said SEC Chairman Mary Schapiro. SIFMA's Operations Conference & Exhibit 2012 is the industry event to get the latest on consolidated audit trail developments and the most critical operations and regulatory issues facing the financial services industry. Register today.

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Wall Street Journal, The · Bloomberg

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