SEC Continue to Delay Ruling on IEX Approval, Reports Say
The SEC will use a "proceeding of disapproval" to get around IEX not agreeing to another delay, according to The Wall Street Journal.
WSJ, citing people familiar with the matter, says the SEC is looking to push the deadline on the decision to mid-June. The current deadline is Monday, March 21. The Financial Times has reported the SEC is hoping to set the deadline for June 17.
The reason for the delay, which would be the second one since IEX initially filed for approval in September, is due to the regulators wanting hear from more industry participants about changes the exchange has made over the past month regarding how it
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