SEC Blocks Chicago Stock Exchange Sale

SEC rejects sale of Chicago Stock Exchange: report

SEC rejects sale of Chicago Stock Exchange: report

"This has been a long fight, and I am grateful we now have a president who recognizes the national security threats of allowing a Chinese government-affiliated company to own the Chicago Stock Exchange", Pittenger said when the Trump SEC crushed the deal on Friday.

Trump brought up the CHX deal twice during his presidential election campaign as one example of how wealth and jobs were exiting the U.S.

U.S. legislators from both parties had harshly criticised the deal in joint letters to the SEC, arguing that it would give the Chinese government access to American financial markets and questioning the SEC's ability to regulate and monitor foreign owners.

The acquisition, which was first proposed back in February of 2016 and worth approximately $25 million, was led by privately held Chongqing Casin Enterprise Group that invests in financial holdings and real estate development. The deal could reportedly bring the exchange, which accounts for just 0.5 percent of U.S. equities trades, some "vital capital".

The exchange declined to comment on Thursday on the final decision. The Committee on Foreign Investment in the United States (CFIUS) said in December 2016 that there were "no unresolved national security concerns" related to the takeover.

"We have concluded that the Exchange has not met its burden to show that approval of the proposed rule change is appropriate", the SEC said in an order posted on its website blocking the sale, per Politico.

Oli sworn in as Nepali PM
He was re-elected to the House of Representatives from Jhapa electorate no 2 in 1999. They also agreed to unify their parties before forming the government.

"By disapproving the transaction, the SEC has denied the American public an historic and unprecedented opportunity to build a mutually beneficial economic bridge between the world's largest economies, while unfairly disadvantaging our company and shareholders", the exchange said.

"The review process has also raised questions about whether the proposed ownership structure will allow the commission to exercise sufficient oversight of the exchange" the SEC said on Thursday.

The Chinese investors at the heart of the deal have been trying to get the sale approved for the past two years.

The Securities and Exchange Commission said a lack of information on the potential foreign buyers would cripple the agency's ability to monitor the exchange.

"Our government considers our stock exchanges-a key part of our national financial market infrastructure-to be "self-regulatory organizations, ' and presumes that each exchange is fully capable of managing the risk inherent in its operations", Manchin said in a statement to Breitbart News last July".

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