SEC Unanimously Votes Wednesday to Allow Half-Penny Stock Pricing

Sep 18, 2024, 02:14 PM

The U.S. Securities and Exchange Commission (SEC) has unanimously voted on Wednesday to allow stock markets to price shares in increments of half a penny, rather than the current minimum size of 1 cent. This change is part of a broader set of reforms aimed at promoting more competitive pricing and reducing investor transaction costs. The new rules will apply to thousands of stocks and exchange-traded funds (ETFs) traded on exchanges. SEC Chair Gary Gensler stated that the stock-pricing revamp addresses outdated rules and is designed to enhance market efficiency. Additionally, the SEC is pushing 10mil access fees.