“The Securities and Exchange Commission is scrutinizing how certain investors might have received potentially market-moving information from the Institute for Supply Management ahead of the public, according to a person familiar with the inquiry, as the trade group changes its procedures to eliminate a delay in the distribution of the data.

“The SEC probe is at an early stage and won’t necessarily lead to any enforcement action, according to the person.

“Separately, ISM, which produces a closely watched manufacturing survey, said it has taken steps to close what is sometimes a 10-second gap between the time its report gets to traders and when a press release containing the survey’s results is received by a broader audience.”

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