© Reuters. FILE PHOTO: FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst/File Photo/File Photo
By Katanga Johnson and John McCrank
WASHINGTON (Reuters) – The chair of the U.S. Securities and Exchange Commission (SEC)said on Tuesday it will consider new oversight rules for some platforms for trading U.S. Treasuries, in a move aimed at boosting transparency and competition.
Gary Gensler said he asked staff to revisit a 2020 proposal issued https://www.reuters.com/article/us-usa-sec-marketdata-idINKBN26J2WK under the Trump administration intended to treat electronic trading platforms for corporate debt and municipal securities more like stock exchanges.
“I’ve asked staff to reconsider (bringing)… certain Treasury trading platforms into the SEC’s regulatory regime and to make recommendations,” said Gensler. Staff would also consider if “other key platforms” could be brought in, he said.
Analysts say potential crypto trading platforms could be captured by the new rules.
In its 2020 proposal, the SEC said it wanted to better enable regulators to hold firms accountable for technology glitches that affect trading and assess a platform’s preparedness for cyber attacks by mandating data backups in case of disaster or emergency scenarios.
Gensler’s comments come amid illiquidity concerns in the $14.8 trillion U.S. Treasuries market. Players anticipate inflation gains could push the Federal Reserve to accelerate interest rates hikes, after ultra-low rates helped flatten the yield curve at its swiftest pace since 2011.
The Federal Open Market Committee is widely expected to announce Wednesday that it will begin tapering its $120 billion-per-month bond buying program.
Gensler added that the SEC will also consider rule changes in equity trading that may shrink the increments at which smaller companies’ stocks are priced, as well as reevaluate best bid and offer components.
He said the agency will soon address potential conflicts of interest in how online brokers use digital engagement practices when marketing to investors after it reviews public comments it sought https://www.reuters.com/legal/transactional/us-markets-regulator-wants-public-feedback-firms-digital-engagement-practices-2021-08-27 in October.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
