The U.S. Securities and Exchange Commission (SEC) extended the deadline for public comment on the acquisition of the Chicago Stock Exchange by a group of Chinese investors.
The comment period was due to end on Jan. 3, but was extended into mid-February at the request of commenters, including U.S. Rep. Robert Pittenger (R-NC).
In a Dec. 22, 2016 letter to the SEC, Pittenger expressed concerns about the proposed sale of the exchange.
“This transaction raises serious questions that go well beyond the limited scope of review that has already taken place,” Pittenger wrote to the SEC. “Allowing an entity such as CCEG (China’s Chongqing Casin Enterprise Group) to acquire one of our nation’s exchanges – with the access, information, and opportunities that exist to undermine U.S. interests – is a very serious matter.”
The congressman urged the SEC to consider rejecting the application, Pittenger also said it should seek more input.
“We strongly object to the timing of this comment period given the weight of this transaction. Holding the public comment period for a brief duration during the holiday season clearly indicates an effort to avoid negative response,” said Pittenger.
Pittinger’s letter was co-signed by U.S. Reps. Earl Carter (R-GA), Peter DeFazio (D-OR), Collin Peterson (D-MN), and David Joyce (R-OH).