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October 23, 2015

SEC getting flack for participants in key stock-market reform group

“The second meeting of a key group debating how stock markets should operate is scheduled for Tuesday, and there are protests about who and who isn’t participating.

“Dennis Kelleher, president of financial reform non-profit Better Markets wants to know why three firms who have “committed or been implicated in serious violations of the law” — ITG, Convergex, and Barclays BARC, are members of the Securities and Exchange Commission’s Equity Market Structure Advisory Committee. In a letter to SEC Chairwoman Mary Jo White sent on Thursday, Kelleher emphasizes that the Committee’s mandate to restructure and reform the equity markets requires members who have the necessary expertise but also “respect for the law, and commitment to investor protection.”

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Read the full MarketWatch article by Francine McKenna here.

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