U.S. securities regulators are considering requiring stock exchanges to expose planned changes to their market data fees to public scrutiny.
The U.S. Securities and Exchange Commission (SEC) has proposed amendments to the U.S. market structure rules that would scrap an exception from the usual rule-making process when it comes to introducing or revising exchanges’ fees.
Currently, fee changes take effect immediately when they are filed with the SEC.
Instead, the SEC is now proposing that fee changes would have to go through the standard procedure of being released for comment and securing SEC approval before they take effect.
“This rule-making will help ensure that [stock exchange] fee changes benefit from review and comment by investors and market participants before those fees can be charged,” SEC chairman Jay Clayton said in a statement.
The proposed change to the procedure has been published for its own 60-day comment period.