Business minded regulation
The Securities and Exchange Commission has approved new rules designed to strengthen the US market's technology infrastructure, which has frequently buckled under increasing strain in recent years. Regulation Systems Compliance and Integrity (Regulation SCI) was approved in a unanimous vote, requiring exchanges, ATSs, plan processors, and certain clearing agencies to put in place comprehensive policies and procedures for their technological systems. The new rules were first proposed in early 2013 after a series of major IT glitches such as the 2010 Flash Crash, Nasdaq OMX's botched handling of the Facebook IPO and the $461 million Knight Capital debacle.
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