Four SEC proposals aimed at lowering investor costs would be broadest shake-up since 2005
email rounding up the latestBanks, trading firms and brokers are bracing for the biggest overhaul of US stock trading in almost two decades with the release on Wednesday of plans designed primarily to lower costs for small investors.
“Potentially these could be the most significant changes to the regulation of equity market structure since regulation NMS,” said Paul Mahoney, law professor at the University of Virginia. The SEC is not expected to block PFOF, but the proposals could significantly curtail its use in several ways. One item on Wednesday’s agenda would require brokers to auction customers’ orders. Another item would require them to publish detailed data showing how orders were carried out.
One market maker said: “The proposals as they’ve been previewed are solutions in search of a problem. And that concern has been expressed by virtually every corner of the marketplace.”
Belgique Dernières Nouvelles, Belgique Actualités
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