The Securities and Exchange Commission is likely to revise its approach to circuit breakers on the nation’s equities exchanges, to include a “careful review” of price bands that limit how far up or down the price of a stock can move at any given time.

SEC Chairman Mary Schapiro told the Economic Club in New York Tuesday that market players “should reexamine the circuit breaker mechanisms that directly limit’’ the kind of volatility in prices that were seen on May 6, the day when the Flash Crash sent the level of the Dow Jones Industrial Average down hundreds of points and back up again, in a matter of minutes.

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