The US Securities and Exchange Commission gave the go-ahead for sweeping changes to a restriction on day-trading activity by small investors on Tuesday in a move cheered by retail brokers.
The Financial Industry Regulatory Authority, Wall Street’s self-regulatory watchdog, had proposed reworking the pattern day trading rule, which bans a trader from making more than four day-trades in a five-day period if their margin account has less than $25,000 in assets.
