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10 Stock Exchanges Plan Joint Enforcement of Insider Trading Rules

Posted Aug 13, 2008, 02:56 pm CDT
By Martha Neil

Ten stock exchanges plan to coordinate their efforts to enforce rules against insider trading, once their agreement to do so is OK'd by the U.S. Securities and Exchange Commission.

Public comments are now being sought by the SEC concerning the plan. It would make the regulatory arm of the New York Stock Exchange and the Financial Industry Regulatory Authority, a private entity, responsible for enforcing insider-trading rules, in a move that is expected to strengthen their authority and eliminate duplicative oversight efforts among the 10 stock exchanges, reports the Washington Post.

Those participating in the joint enforcement effort are: the American Stock Exchange; the Boston Stock Exchange, the CBOE Stock Exchange, the Chicago Stock Exchange, the International… Continue reading...

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