Market Structure

Securities regulation is not an area where great minds always think alike. The 1963 Special Study sparked the equivalent of a contemporary Twitter war between ...

As we enter the new year and, perhaps, a new regulatory environment, I believe regulators and others with responsibility for financial markets must do the ...

The SEC will be able to continue to tap the collective insight of a variety of financial services industry pros on equity market structure issues ...

As we begin the transition process to new leadership at the Commission and to having a full Commission, we need to ensure continuity of all ...

Merrill Lynch violated the Market Access Rule by failing to establish, document, and maintain a system of risk management controls and supervisory procedures reasonably designed ...

I want to focus the public’s attention on the fact that this year’s Rule List includes Regulation NMS. When Regulation NMS was adopted, there was ...

One such element that is widely discussed is the “maker-taker” fee structure used by the highest volume exchanges to charge access fees to brokers for ...

The Customer Issues subcommittee has noted that it will provide specific comments on the Commission’s recent proposal, and today’s recommendations before the Committee also touch ...

In my mind, the investor testing contemplated in the Subcommittee’s recommendation would be valuable not because it could improve investor confidence, but because it could ...

The Commission is now in the midst of another significant phase of market structure review, as technology advancements continue to accelerate the pace of change ...