Industry fears burden of SEC’s giant equity market makeover

Even buy-side representatives warn the impact of retail order auctions is unpredictable

The biggest equity market overhaul in almost two decades, aimed at improving pricing for retail investors, has been greeted with a pendulum-sweep of reactions – a few thumbs up, some deep disapproval, and plenty of confusion. Some of the reactions are predictable, others more surprising.

One surprise around the Securities and Exchange Commission’s proposed package of rules is the lukewarm reaction so far, even from some groups representing the investors who are supposed to benefit.


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