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Wall Street and the SEC Are Headed for Clash on Commission-Free Trading

  • Gensler wants agency to overhaul rules for retail stock trades
  • Some executives say trades without fees could be collateral
Gary Gensler

Gary Gensler

Photographer: Al Drago/Bloomberg
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Gary Gensler’s bid to overhaul rules for the stock market is reigniting a longstanding debate over how good mom-and-pop investors really have it and whether anything Wall Street is selling is actually free.

Some industry insiders say it’s never been better to be a small-time trader. Buying and selling shares is cheap and easy, they say.