SEC’s Schapiro: Initial findings due Tuesday in market plunge investigation

SEC chief: Early findings due in trading probe

BOSTON — The nation’s top securities regulator says her staff will issue preliminary findings today on the unexplained sudden plunge in financial markets on May 6.

Securities and Exchange Commission Chairman Mary Schapiro says her agency’s staff and counterparts with the Commodity Futures Trading Commission will present findings to a panel studying what she calls the “flash crash.”

Schapiro, speaking by video link from Washington to a Boston gathering of the Chartered Financial Analysts Institute, says trading exchanges today also expect to issue new rules aimed at preventing another such crash.

Regulators are trying to explain a nearly 1,000-point drop in the Dow Jones industrials, before the Dow recovered to finish the day down 342 points.