This proposed SEC rule allows the Chairman of the SEC (Gary Gensler) to shut down the entire NYSE for at least 2 days based on his opinion.
Quote:SECURITIES AND EXCHANGE COMMISSION
(Release No. 34-93309; File No. SR-NYSE-2021-60)
October 13, 2021
Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change to Amend Its Rules to Add New Rule 7.13
Quote:A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory
Basis for, the Proposed Rule Change
The Exchange proposes to amend its rules to add new Rule 7.13 (Trading Suspensions).
Proposed Rule 7.13 would permit the Chair of the Board of the Exchange, or the CEO, or
the officer designee of the Chair or the CEO, to suspend trading in any and all securities trading
on the Exchange whenever in his or her opinion such suspension would be in the public interest.
No such suspension would continue longer than a period of two days, or as soon thereafter as a
quorum of Directors can be assembled, unless the Board approves the continuation of such
Why should the entire stock market be shut down for one man’s opinion?
What happened to the free market? What can’t the stock exchange operate based on the natural forces of supply and demand?
I know why they’re doing this. Do you?
Are you even concerned at all?
Retail wants their f^cking money. STOP KICKING THE CAN!!!
h/t Xeno Heresy