Securities and Exchange Commission Chairman William Donaldson told the Investment Counsel Association of America Thursday that the Commission is considering alternatives to its hard 4 p.m. close proposal.

Donaldson said that during the comment period for the proposal, the Commission received many suggestions, among them implementing a system of audited controls that would better prevent and detect late trading. Other suggestions have included the use of more sophisticated technology that could eliminate late trading, or at least make it more easily detectable.

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