Regulatory Outlook | 02.10.21
NASDAQ, NYSE Sue SEC to Block Market Data Overhaul
NASDAQ and the New York Stock Exchange (NYSE) sued the SEC to block the regulator's plan to overhaul the public data feeds that broadcast stock prices to investors. In parallel court filings, the exchanges, along with Cboe Global Markets, asked the U.S. Court of Appeals for the District of Columbia Circuit to review the SEC's plan. The filings were dated Friday but only released on the court's website Tuesday. Both the NYSE and NASDAQ had earlier said that the plan was an overreach by the regulator, and NASDAQ had also argued that it would amount to an unconstitutional seizure of its property.
Read the full article on Wall Street Journal.