The American Securities Association abandoned its bid to undo a rule change previously approved by the SEC that would’ve shortened the window for fixed-income transaction reporting to just one minute.
A joint dismissal motion from the ASA and the Securities and Exchange Commission, granted Thursday by the US Court of Appeals for the Eleventh Circuit, comes after the regulator signed off on a new plan that largely resolves the industry group’s concerns.
The Biden-era SEC in September 2024 had approved a proposal from the Financial Industry Regulatory Authority to shorten the current 15-minute window for reporting many fixed-income trades, prompting ...