DC circ. Orders SEC to review FINRA bond reporting plan

By Katryna Perera (August 16, 2022, 10:15 p.m. EDT) – The U.S. Securities and Exchange Commission has been ordered to review a bond reporting system that it approved for enforcement by the Securities and Exchange Authority. financial sector regulation after the DC Circuit discovered on Tuesday that the regulator failed to respond adequately to concerns raised by Bloomberg LP.

Bloomberg asked the DC Circuit in March 2021 to review the SEC’s decision to approve new reporting requirements proposed by FINRA to create a centralized, uniform data system for new bonds.

In an opinion written by U.S. Circuit Judge Robert L. Wilkins, the three-judge panel dismissed the SEC’s decision, saying the commission approved FINRA’s proposal…

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