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May 14, 2013

SEC chair agrees with calls for U.S. stock market review: offical

The head of the Securities and Exchange Commission, Mary Jo White, is on board with calls for a broad review of the framework of the U.S. equity market, which has been roiled by softwareglitches over the past year, an SEC commissioner said on Monday.

White, who took over the SEC in February, has not discussed the issue in detail and nothing concrete has been decided, Commissioner Daniel Gallagher said after 20 industry officials discussed equity market structure at a roundtable.

“‘We haven’t talked too much in depth on market structure issues,’ Gallagher said. ‘I know that she is on board with the idea that it is a huge issue and we need to resource it and come up with a plan.

“‘We have to do a holistic review. Nobody is arguing against it,’ said Gallagher, who had urged a wide-ranging review of the U.S. equity marketplace in a widely commented speech in October.”


Read full Reuters article here

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