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O’Melveny’s Traeger Quoted in Bloomberg Businessweek Article on SEC’s Proposal for Market-Surveillance SystemFebruary 10, 2012
O’Melveny & Myers partner Heather Traeger was quoted in the February 9, 2012, Bloomberg Businessweek article “SEC Backs Away From Real-Time Data in Market Tracking System,” which reported that as part of the US Securities and Exchange Commission’s planned market-surveillance system, SEC Chairman Mary Schapiro is reconsidering an earlier proposal the agency made requiring live reporting of trading data.
Of the proposal, Traeger, a former SEC lawyer, commented “Reviewing real-time data doesn’t reflect how the markets work, such as the various processes that are tied to the end of the day. Plus, real-time data is unnecessary to achieve the commission’s stated goals in implementing a consolidated audit trail.”
Traeger is a member of O’Melveny’s Financial Services Practice and resident in the Firm’s Washington, DC office.