SEC Chairman Walter Discusses New Proposed Rules

SEC Chairman Elisse Walter delivered an opening speech in which she discussed how rules for market-wide circuit breakers, and a new limit-up/limit-down mechanism to pause trading when markets move too far too fast, are already in place. Furthermore, the SEC clarified when erroneous trades are to be broken and prohibited stub quotes and naked access to the market. However, Walter stated that she believes that improved quality assurance is needed through more careful design, testing and monitoring.

See: Chairman Walter’s Opening Statement.
See also: Commissioner Daniel M. Gallagher’s Opening Statement and Commissioner Luis A. Aguilar’s Remarks entitled “Developing Solutions to Ensure That the Automated Systems of Our Marketplace Are Secure, Robust, and Reliable.”