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IEX Exchange is changing its retail price improvement programme to enhance performance for retail investors, whose increased participation has led to larger equity volumes being traded off-exchange and whose treatment has come under scrutiny by lawmakers.
There have been estimates that nearly half, 45%, of total US equity trading volume is now being transacted off exchanges and the vast majority of that is retail trades.
Ronan Ryan, IEX
Ronan Ryan, co-founder and president of IEX Group, told Markets Media: “There has been an increased scrutiny on retail trading and a redoubling of focus on execution quality, which is something that IEX feels very strongly about.”
Gensler Says SEC Will Enforce Reg BI ‘As Written’ In a testimony before the House Committee on Financial Services, the new SEC Chair noted the regulator would evaluate Reg BI, and update and freshen it if need be.
During a congressional hearing this week, Securities and Exchange Commission Chair Gary Gensler told lawmakers the agency would make sure firms are complying with Regulation Best Interest “as written.” But investor advocates say there is still latitude to add more teeth to the rule through additional guidance.
“It’s important that investors actually have brokers take their best interest at heart,” Gensler said, in response to a question about Reg BI from Rep. Ann Wagner (R-Mo.). “And that’s what we’re going to do; through examination, enforcement, and guidance, ensure that the rule is fully complied with as written.”
By Maggie Fitzgerald, CNBC •
Updated on May 6, 2021 at 12:00 pm
Tiffany Hagler-Geard | Bloomberg | Getty Images
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Thursday marks the third U.S. House Committee on Financial Services hearing on GameStop, called Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide.
Money Report
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