Limit Order Display Rule and Amendments to Quote Rule
OGC-96-43: Published: Sep 26, 1996. Publicly Released: Sep 26, 1996.
Pursuant to a legislative requirement, GAO reviewed two rules promulgated by the Securities and Exchange Commission (SEC). GAO noted that SEC: (1) believes that the Limit Order Display Rule will provide investors with improved execution opportunities and improved access to best prices when they buy or sell securities; (2) believes that amendments to the Quote Rule will ensure that all investors are fully informed of the best price at which specialists or market makers are willing to trade a security; and (3) complied with applicable regulations in promulgating the rules.