For His Next Trick, Barefoot Genius Aims to End Broker Rip-Offs

“Removing order-protection rules without implementing other protections for investors would increase conflicts of interest and risks for investors,” Tyler Gellasch, executive director at Healthy Markets Association, an investor trade group, wrote in an e-mail. “Relying exclusively on the invisible hand of arbitrage without regulatory mandates or safety nets sounds great, but the reality would be far more opacity and abuses at the expense of investors.”

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