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ARTICLE · 09 AUGUST 2016

EMSAC Considers Recommendations On Trading And Disclosure

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The SEC Equity Market Structure Advisory Committee ("EMSAC") considered recommendations made by a subcommittee that examined investor disclosures, trading halts and trading reopenings.

United StatesFinance and Banking
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The SEC Equity Market Structure Advisory Committee ("EMSAC") considered recommendations made by a subcommittee that examined investor disclosures, trading halts and trading reopenings.

The EMSAC Market Quality Subcommittee made a number of recommendations regarding halts and reopenings in individual stocks and in the market generally. The subcommittee recommended that the exchanges make every possible effort to open all stocks at 9:30 a.m. following a trading halt. The subcommittee noted problems with reopening less liquid securities.

The EMSAC Customer Issues Subcommittee suggested that the SEC:

  • benchmark and monitor investor confidence in U.S. equities market structure by testing the clarity of disclosures on a representative sample of individual investors; and

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