Opinion

Breaker-Breaker: SEC Steps Up War on Risk

In the more than 20 years that followed 1987's Black Monday, the so-called circuit breakers installed in its wake were activated only once. The public was assured during that time that regulators were on top of increasingly automated and volatile markets, and that regulation was unwise anyway -- because openness, in the sense of keeping operations going, no matter what, was essential to market integrity. This longstanding hands-off policy with regard to market volatility may be coming to an end soon.