Market structure has been evolving at a rapid pace. Figuring out how investors will be best protected and ensuing that markets operate in an efficient and effective fashion is something that regulators and other involved in the financial sector are considering.
It is a shame that these issues seem to come up only after some enforcement action has been taken.
I’m hopeful that equity markets, with the assistance of the Securities and Exchange Commission’s Market Structure Advisory Committee, will come up with recommendations for the future. Chair White is to be commended for doing what few regulators do, look ahead and try to see around the corner.