SIA supports SEC proposal on self-regulatory organizations

The Securiteis Industry Association backs the SEC's plan to increase transparency and efficiency of self-regulatory organization rule making, according to a comment letter sent to the commission on June 4. John Polanin Jr., who chairs the SIA's committee on self-regulatory and supervisory practices, wrote that the SEC should also require SROs to implement formal notice and comment procedures to solicit their members' views before filing rule-change proposals with the SEC or issuing "substantive" rule interpretations.