The Securities and Exchange Commission delayed approval for the takeover of the Chicago Stock Exchange by a Chinese-led group pending the review of a rule change.

SEC secretary Brent Fields sent a letter to the exchange informing them that the takeover of the U.S. bourse by Chongqing Casin Enterprise Group would be delayed pending the review, a reversal from the regulatory body's previous recommendation that the deal moves forward. 

The Committee on Foreign Investment in the United States (Cfius) has also scrutinized the takeover since it was first proposed two years ago. 

Watch More with TheStreet: