Reported about 23 hours ago
A federal appeals court has struck down the SEC's 2023 regulations that allowed stock exchanges to pass costs for a comprehensive market surveillance system onto their members, stating the SEC failed to provide sufficient justification for the cost distribution. This ruling is a setback for the SEC's efforts under the Biden administration and affects the Consolidated Audit Trail initiative essential for monitoring U.S. market operations. The American Securities Association and Citadel Securities, who challenged the regulations, welcomed the decision as a protection against unfair investor tax increases.
Source: YAHOO