SEC de­lays Chicago Stock Ex­change deal

New Straits Times - - Business -

The United States Se­cu­ri­ties and Ex­change Com­mis­sion (SEC) on Wed­nes­day put on hold a de­ci­sion by its staff ap­prov­ing the sale of the Chicago Stock Ex­change to a group led by China-based in­vestors, giv­ing the reg­u­la­tor more time to mull the po­lit­i­cally sen­si­tive deal. The SEC will vote at a later date on whether to let the de­ci­sion stand. The SEC move is not un­usual, par­tic­u­larly if the deal is con­tro­ver­sial or high pro­file. In May, SEC did not give a rea­son for its de­ci­sion to re­view its staff ’s ini­tial ap­proval to al­low what would have been the first quadru­ple-lever­aged ex­change traded fund to come to mar­ket.

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