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Why Wall Street Is Clashing Over the SEC’s Stock-Trading Overhaul

  • Equities-trading revamp would boost competition, Gensler says
  • NYSE sees a level playing field as Robinhood warns of trouble
Bloomberg business news
SEC Proposes Sweeping Changes for Stock Trading

A planned overhaul of US stock-trading rules was greeted with skepticism by some financial firms that said, essentially, “If it ain’t broke don’t fix it.” Other traders welcomed the proposed changes and their promise of greater transparency and improved access to markets for investors.

The Securities and Exchange Commission laid out more then 1,000 pages of proposals on Wednesday that Chair Gary Gensler said would boost competition in equities markets. The changes would affect everyone, from wholesale firms that process orders to exchange operators and retail brokers.