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First Tell Us What’s Wrong With Stock Market, SEC Official Says

Critics should better frame what’s wrong with the U.S. stock market before offering solutions to fix it, according to a senior official at the Securities and Exchange Commission.

That so many proposals have been proffered in the last two months by exchanges trying to revamp trading shows there’s no clear idea of what they’re trying to solve, Gregg Berman, one of the SEC’s top advisers on electronic markets, said Tuesday at an Investment Company Institute conference in New York.