Duffy Applauds SEC Approval of Tick-Size Pilot Program

House Financial Services Oversight & Investigations Subcommittee Chairman Sean Duffy (WI-07) applauded the Security and Exchange Commission's approval of a proposal by the national securities exchanges and the Financial Industry Regulatory Authority (FINRA) for a two-year pilot program that would widen the minimum quoting and trading increments--or tick sizes--for stocks of some smaller companies.

"I am pleased with the SEC pilot program announcement," Rep. Duffy said. "I would like to commend the Commissioners and staff at the SEC for working with Congress, industry and stakeholders. The SEC has crafted a program that will examine the liquidity needs of small cap companies entering the market at a duration that will provide solid data to decision makers," Duffy continued.

"This happened because Republicans and Democrats, industry participants and- of course- the SEC collaborated for the best outcome. Other regulators should follow the example set by the commission when crafting future rules."

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