Unlisted trading privileges revamped, leveling playing field for investors.
The Securities Acts Amendments of 1964 removed the controversial issue of unlisted trading privileges from the Securities and Exchange Commission's discretion. This legislation extended regulation to over-the-counter securities, making unlisted trading privileges less significant. Previously, unlisted trading privileges were available for certain issuers not subject to specific regulatory provisions. The 1964 amendments now require issuers to meet exchange listing requirements to trade on an exchange.