D.C. Circuit Rejects SEC’s Program Testing Exchange Fees And Rebates
By EsqSocial Corporation 01/07/20
On June 16, 2020, the U.S. Court of Appeals for the District of Columbia Circuit held that the Securities and Exchange Commission (“SEC”) lacks the authority to administer a two-year pilot program designed to review the fees and rebate structure used by U.S. stock exchanges. As discussed in our previous article, major U.S. exchanges, such as New York Stock Exchange, CBOE, Global Markets, and Nasdaq sought review to challenge the pilot program. In New York Stock Exchange LLC v. SEC, No....<BR />By: <a href="https://www.jdsupra.com/profile/Sheppard-Mullin/">Sheppard Mullin Richter & Hampton LLP</a>