Bloomberg Interview with Jim Toes

Aug. 6 (Bloomberg) — Jim Toes, president and chief executive officer of the Security Traders Association, speaks with Betty Liu on Bloomberg Television’s “In the Loop.”  Mr. Toes says in the interview, “In 2009, there were fourteen hundred SRO Rule Filings.  Of those fourteen hundred, the SEC identified sixty to be what they would consider novel or complex, and it’s really those sixty that we’re talking about – some type of a new procedure to be involved – extra due diligence and a longer timeline for the SEC to allow market participants to comment on it and test their systems.  Just to be clear, we’re not looking to overhaul the whole SRO rule making process, it is a small percentage of rules we are asking them to look at…”