“One of our major areas of focus is best execution,” says Tyler Gellasch, executive director of the Healthy Markets Association, which was formed in 2015 to advocate on behalf of the buy side on market structure issues. “We’ve been working with FINRA over the past couple of years to encourage brokers to deliver improved execution […]

“The letters lay out a very clear threat to the SEC: If you go forward, we are going to consider suing you,” said Tyler Gellasch, executive director of the Healthy Markets Association, a group representing large investors that has supported the SEC’s pilot. Read more in the Wall Street Journal.

“This is an unprecedented step for the SEC to say to the exchanges that they have to do a better job justifying their changes,” said Tyler Gellasch, executive director of the Healthy Markets Association, an investor advocacy group. “My suspicion is that this dramatically clamps down on market data hikes and fee changes by the […]

But if the big exchanges “thought raising listing standards would lead to more listings and business, I would expect them to give it a try,” says Tyler Gellasch, executive director of Healthy Markets Association, an investor advocacy group. “So far, they haven’t. In fact, they’ve kind of done the opposite.” Keep reading in Bloomberg.

The infractions point back to a question that can addle investors: Do they really know what their brokers are doing? This settlement is glaring proof that the Securities and Exchange Commission needs to advance its nearly two-year-old proposal to tighten disclosures on broker order routing, said Tyler Gellasch, executive director of Healthy Markets Association, an investor advocacy […]

“The SEC is going to regulate not only the products but the places where they trade and who trades them,” said Tyler Gellasch, a former SEC official who is now executive director of Healthy Markets Association, an investor-backed trade group. “There ought to be some pretty deep soul searching for those operating some of these […]

Tyler Gellasch, executive director of Healthy Markets Association, an investor-focused trade group, said the case “shows the SEC is starting to hold the exchanges accountable for major market disruptions, like August 24”. Read more in the Financial Times.

These “order types could be used to sniff out orders, thereby leading to information leakage that favored floor brokers over other customers,” Tyler Gellasch, executive director of an investor advocacy group called the Healthy Markets Association, wrote in an email. “This is huge” in the context of private lawsuits, he added. Read more in Fortune.

However, the industry should not view the Commission’s decision as a shot across the bow regarding foreign investment in SROs, according to Tyler Gellasch, executive director of the industry organization Healthy Markets Association. “The structure of the deal and the opacity of the ownership, and accountability, likely made this an easy call for the Commission,” […]

“Many of us were concerned as RegA+ was being developed that it would be a disaster for investors,” says Tyler Gellasch, a former SEC staffer who now runs the Healthy Markets Association. “A few years into this experiment, and these results are about as bad for investors as anyone could have predicted.” “A market—an entire […]