Press Release: SEC’s Transaction Pilot Delay Good for Main Street Investors
WASHINGTON – The American Securities Association (ASA) today applauded the U.S. Securities and Exchange Commission (SEC) for partially halting its transaction fee pilot and called on the Commission to formally drop its plans to move forward with the Pilot entirely.
“We applaud the SEC for prioritizing the interests of Main Street investors over Wall Street profits by partially halting the transaction fee pilot,” said ASA CEO Chris Iacovella. “This government-mandated experiment slams the door on market transparency by directing more trading volume to Wall Street dark pools. While we welcome the delay, the SEC should scrap its plans to move forward with the Pilot entirely.”
Last year, the ASA sent a comment letter to the SEC outlining its concerns with the Pilot. To read the full letter, click here.