SEC rejects sale of Chicago Stock Exchange to Chinese investors
Securities and Exchange Commission chairman Jay Clayton. Photo: Justin Sullivan / Getty Images
The U.S. Securities and Exchange Commission rejected a bid from China-based investors for the Chicago Stock Exchange (CHX), despite it already having been approved last August, Reuters reports.
Why it matters: Trump-appointed SEC chairman Jay Clayton put the deal on hold minutes after it was approved. Per Reuters, the sale "drew harsh criticism from U.S. lawmakers who questioned the SEC's ability to regulate and monitor the foreign owners if approved."
- The SEC said it did not have sufficient information on the proposed buyers and their sources of funds, Reuters reports, and that it was "not satisfied it would have full access to the exchange's books and records."