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As discussed further below, the Commission is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest.
"This proposed rule finally acknowledges that some practices just aren't fair," the organization said in a statement.
It received 140,000 comments on this proposed rule change, the vast majority opposing it, and still went ahead.
It may seem like a Washington game, but this proposed rule has huge implications for all of us.
We have already seen our patients react to this proposed rule by making unfortunate and harmful choices.
Congress attached a temporary moratorium to preserve these services to the S-chip bill, but the president's veto has left this proposed rule in place.
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And in this regard, the proposed rule falls well short.
And in this regard, the proposed rule falls well short of what is required to protect Americans from catastrophic harm.
Under the proposed rule, this activity could have been deemed prohibited proprietary trading.
"This shows that the proposed rule is not formulated on a strong scientific basis and assumptions made in the proposed rule may not be correct," Ms. Gillibrand wrote in a letter to the Agriculture Department.
And not only did this previously proposed rule call for a more significant raise, but it also included automatic adjustments that would take effect every three years; the current proposed rule does not have a provision for an automatic adjustment.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com