Genslers meme stock reforms are meant to help retail traders some investor protection advocates aren’t so sure

Marketwatch – In a story about the equity market reforms proposed by the Securities and Exchange Commission, Tyler Gellasch, president and CEO of Healthy Markets Association, has long been an advocate for the sort of market reforms that the SEC proposed in December, but he declined to support the retail order auction proposal in a comment letter submitted to the SEC last week. He instead argues that the SEC should focus on adopting rules that simply require brokers to get the best prices possible for their customers, without taking into account fees or rebates paid to them by market makers or exchanges. If the SEC can strengthen these so-called “best execution” rules, Gellasch wrote, “this new, exceedingly complex apparatus…should be unnecessary.” (Full Story).

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