By Vicki Needham - 06/04/10 08:55 PM EDT
The Securities and Exchange Commission is reviewing responses and is expected to begin phasing in its circuit-breaker proposal within the next couple of weeks.
The SEC is looking to require national securities exchanges and the Financial Industry Regulatory Authority (FINRA) to pause trading in certain individual stocks if the price moves 10 percent or more in a five-minute period in response to a nearly 1,000 point drop in the market on May 6.
The plan to roll out the new stock-by-stock circuit breakers was slated to start Monday. Regardless, the plan is expected to be in place by mid-June.
Staff will present proposals to the commission sometime next week then move forward with putting the circuit-breakers in place.
"The SEC staff is now reviewing and analyzing the comments that were received over the course of the public comment period that ended yesterday," SEC spokesman John Nester said Friday in a release.