The Securities and Exchange Commission Friday approved the expansion of its post-Flash Crash circuit breaker program to include all stocks in the Russell 1000 Index and a test group of exchange-traded funds.

The SEC also approved new rules for national exchanges and the Financial Industry Regulatory Authority to follow that clarify the process for breaking erroneous trades, in cases such as the May 6 Flash Crash, when prices fall (or rise) precipitously.

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