SIFMA submitted comments and a petition for disapproval to the Securities and Exchange Commission (SEC) relating to feedback on notices issued by the operators of the Consolidated Tape Association (CTA) and Unlisted Trading Privileges (UTP)  plans.

SIFMA wrote that each notice refers to “feedback received from SIFMA.” However, SIFMA said such feedback was given during a single 90 minute meeting held in late April 2014, during which the exchange representatives shared some limited details of these proposals with SIFMA members, but such proposals were not discussed at any length or in any detail because such details were not made available at that time.

SIFMA said despite its’ follow-up requests for more details to provide informed comments, the plans failed to give any. As a result, SIFMA did not provide formal comments or feedback, so any such reference should not be deemed as SIFMA acquiescing to the content of the notices.

SIFMA also filed 19(d) applications for each of the notices.

Related Material

(Release No. 34-73279; File No. S7-24-89) 

(Release No. 34-73285; File No. SR-CTA/CQ-2014-02)