FOR IMMEDIATE RELEASE
Monday, October 26, 2015
Contact: Jeff Gohringer, 202-618-6430 or jgohringer@bettermarkets.com
Better Markets Statement Ahead of Tomorrow’s SEC Equity Market Structure Advisory Committee Meeting
**Click here to view the recent letter to SEC Chair White**
Washington, DC — Better Markets President and CEO Dennis Kelleher issued this statement ahead of the Equity Market Structure Advisory Committee meeting tomorrow, following the letter sent to Securities and Exchange Commission (SEC) Chair Mary Jo White last week demanding that industry lawbreakers no longer serve on this important committee:
“At least three firms represented on the SEC’s Equity Market Structure Advisory Committee have either admitted or been implicated in serious illegal conduct regarding dark pool and high frequency trading violations – the very issues the committee was designed to combat. Their continued presence on this committee calls into question the value and credibility of the upcoming meeting at a time when the American people are questioning the fairness of our equity markets. You don’t have to believe the markets are ‘rigged’ to see that there are serious problems with fragmentation, predatory conduct, and systemic instability. The public deserves a committee that looks out for their interests, not another Wall Street club that includes firms that have recently committed egregious violations of the law. It’s time for the SEC to restore the credibility of the Equity Market Structure Advisory Committee by immediately removing those members affiliated with those firms that broke the law and reconstituting the committee with a majority of members dedicated to serving the public interest.”
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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.
