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SEC Official: You’re Not Dealing With Morons Here

Gregg Berman of the Securities and Exchange Commission has a message for those doubting that the regulator understands the U.S. stock market in the era of light-speed trading: You’re wrong. Berman, one of the SEC’s top advisers on high-frequency firms, dark pools and other elements of computerized markets, is facing pressure to respond to claims his agency has failed to police exchanges and has permitted speed traders to put other investors at a disadvantage. Other authorities, including New York Attorney General Eric Schneiderman, have announced their own probes into the issue. In remarks today at an Options Industry Conference near Austin, Texas, Berman aimed a rebuttal at critics and “maybe an attorney general” who might think “regulators are very behind the times and can’t keep up with market participants.” [Bloomberg]

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2 Responses to “SEC Official: You’re Not Dealing With Morons Here”

  1. largent80 says:

    Hey!
    – UBS Maroon quant

  2. WatchDawg says:

    Of course we're investigating HFT and fiber-technologies.

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