US Securities and Exchange Commission Chairman, Mary Jo White joined Bloomberg Television’s Peter Cook today on “Market Makers” and said she expects exchanges to provide “very concrete” suggestions, timelines for improvements, how to deal with possible technical incidents in the future. White said:
– “We’ve asked for a report on the status of kill switches, which can also add to the resiliency and robustness of the marketplace should there be an issue.”
– Can’t eliminate incidents although, must “have robust systems to deal with it when you do have any incident.”
– SEC, other regulators “driving toward” finishing Volcker rule by end of year, aim is to avoid unintended consequences
