The SEC approved the rule last fall, that would have required markets and brokers to track and report on the timing and price at which they processed customer trades. The rule was slated to be phased in beginning April 2, 2001.
However pulling the required information together isn’t going to be easy for many, prompting the SEC to consider pushing the deadline back a month or more, according to Dow Jones, citing sources familiar with the issue.
Delaying the rule, which excluded trades in NASDAQ small-caps, after-hours trading and any orders where a customer requests special handling, would require a vote by the SEC.
Information produced as a result would allow investors to compare brokers and markets.
U.S. exchanges and the National Association of Securities Dealers have submitted a joint plan on how to establish uniform reporting procedures. Publication of the plan in the Federal Register is slated for the week of February 26.
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