SEC May Give a Month for Stock Plan Comment

The Securities and Exchange Commission may give the public only one month to comment on its revised plan to overhaul U.S. stock market trading, half the time it usually provides, SEC Chairman William H. Donaldson said Thursday after a luncheon speech.

The agency typically gives the public 60 days to comment.

The stock market overhaul plan is an attempt to resolve “the conflict between those who want speed and those who believe bids and offers should be protected,” Donaldson said in his speech.

Revisions include the elimination of a provision that allows investors to opt out of a requirement that brokers obtain the best price for their client’s stock trades for speedier trades. The new plan retains the best price requirement, known as the trade-through rule, and extends it to all trades on electronic markets, including Nasdaq.

The SEC is expected to put the revised plan out for comment at its Dec. 15 meeting.