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SEC requests disclosure on climate change risk, weighs new requirements
  + stars: | 2021-06-14 | by ( Diana Olick | ) www.cnbc.com sentiment -0.97   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSEC requests disclosure on climate change risk, weighs new requirementsSunday was the deadline on the SEC's request for comment on corporate climate change disclosures. CNBC's Diana Olick reports.
Persons: Diana Olick
High-Speed Trader Virtu Fires Back at Critics Amid Meme-Stock Frenzy
  + stars: | 2021-06-13 | by ( Alexander Osipovich | ) www.wsj.com sentiment -0.99   time to read: +1 min
High-speed trader Virtu Financial Inc. is pushing back against critics in Washington who say the stock market is rigged against small investors. The review will include a practice known as payment for order flow, in which brokerages send many of their customers’ orders to trading firms in exchange for cash payments. Payment for order flow has existed for decades and has come under scrutiny before. They say small investors benefit from the practice because it results in better prices than they would get at public exchanges like the New York Stock Exchange and the Nasdaq Stock Market . Collectively, that saves investors billions of dollars a year, industry data show.
Persons: Gary Gensler, brokerages, Gensler’s, Sean Casten Organizations: Virtu Financial, AMC Entertainment Holdings Inc, GameStop Corp, Securities and Exchange Commission, SEC, GameStop, Markets, New York Stock Exchange, Nasdaq Locations: Washington
Musk says Tesla will accept bitcoin again as crypto miners use more clean energy
  + stars: | 2021-06-13 | by ( Emma Newburger | ) www.cnbc.com sentiment -1.00   time to read: +1 min
Tesla CEO Elon Musk on Sunday said the company will resume bitcoin transactions once it confirms there is reasonable clean energy usage by miners. "When there's confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions." Tesla revealed in an SEC filing in February that it purchased $1.5 billion worth of bitcoin and said it would begin accepting bitcoin as a payment method for its products. On Sunday, Musk disputed Wierzycka's allegations of market manipulation, explaining, "Tesla sold roughly 10% of its bitcoin holdings "to confirm BTC could be liquidated easily without moving market," he said. Bitcoin was trading around $37,442, according to Coindesk, at around 2:30 pm ET, up more than 4% on the day.
Persons: Elon Musk, Tesla, Magda Wierzycka, Sygnia, Musk, Bitcoin Organizations: U.S . Securities, Exchange Commission, SEC, bitcoin, BTC
U.S. charges Israeli traders in healthcare insider trading scheme
  + stars: | 2021-06-10 | by ( Jonathan Stempel | ) www.reuters.com sentiment -0.99   time to read: +2 min
U.S. prosecutors on Thursday unveiled criminal charges in Manhattan accusing two Israeli traders of illegal trading in several biotechnology and healthcare companies in connection with a sprawling international insider trading scheme. Tomer Feingold and Dov Malnik were accused in a 15-count indictment of securities fraud, wire fraud, tender offer fraud, concealment of a money laundering scheme, and conspiracy. The U.S. Securities and Exchange Commission filed related civil charges against Feingold and Malnik in March 2020. The other trader, identified in media reports as Marc Demane Debih from Geneva, pleaded guilty to 38 charges and cooperated in U.S. prosecutors' insider trading case against Telemaque Lavidas, a pharmaceutical executive. He had been among six people charged in four indictments in October 2019 over an insider trading scheme that prosecutors said generated tens of millions of dollars in illegal profit.
Persons: Tomer Feingold, Dov Malnik, Feingold, Audrey Strauss, Malnik, Benjamin Taylor, Darina Windsor, Marc Demane Debih, Telemaque Lavidas, Lavidas Organizations: Authorities, Ariad Pharmaceuticals Inc, Avanir Pharmaceuticals Inc, InterMune Inc, U.S . Securities, Exchange Commission, Malnik, SEC, Moelis, Centerview Partners, Thomson Locations: Manhattan, Geneva, Switzerland, U.S
S&P 500 brushes off rising inflation to hit record high
  + stars: | 2021-06-10 | by ( Ambar Warrick | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Mike Segar/File PhotoU.S. stocks rose on Thursday and the S&P 500 hit a record intraday high as investors juggled signs of a swift economic recovery with concerns over the Federal Reserve tapering its massive monetary stimulus. The S&P 500 (.SPX) hit a record high of 4,249.74. ET, the Dow Jones Industrial Average (.DJI) was up 123.39 points, or 0.36%, at 34,570.53 and the S&P 500 (.SPX) was up 18.18 points, or 0.43%, at 4,237.73. read moreAdvancing issues outnumbered decliners by a 2.55-to-1 ratio on the NYSE and a 2.17-to-1 ratio on the Nasdaq. The S&P index recorded 48 new 52-week highs and no new lows, while the Nasdaq recorded 72 new highs and nine new lows.
Persons: Mike Segar, Mark Grant, Christine Lagarde Organizations: New York Stock Exchange, REUTERS, Labor Department, CPI, Riley, Dow Jones, Nasdaq, European Central Bank, Clover Health, AMC, GameStop Corp, SEC, Boeing, Reuters United Airlines, Airbus, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S
GameStop tumbles, Clover Health rises in 'meme stock' rollercoaster
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
June 10 (Reuters) - Shares of GameStop fell 7.6% and Clover Health Investments jumped 5.9% in early deals on Thursday, setting the stage for another rollercoaster session for stocks favored by small-time investors on social media platforms. Clover Health, which had a short interest of 43.5% of free float as of Tuesday, was up 5.9% at around $17.92 before the bell. In the past two weeks, the so-called “meme stocks” have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price. Shares of AMC Entertainment were down 6.0%, while prison operator Geo Group - the latest “meme stock” - slumped 8.5% after surging 38% on Wednesday.
Persons: Vanda, Sagarika, Sriraj Kalluvila Organizations: GameStop, Clover Health Investments, Wednesday, Medicare, Clover Health, AMC Entertainment, U.S . Securities, Exchange Commission, SEC, Vanda Research, Geo Locations: Bengaluru
GameStop tumbles, Clover Health rises in 'meme stock' roller coaster
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell 7% and Clover Health Investments Corp (CLOV.O) jumped 6.4% in early deals on Thursday, setting the stage for another roller coaster session for stocks favored by small-time investors on social media platforms. Shares of cinema operator AMC Entertainment Holdings Inc (AMC.N) were down 4.1%, while prison operator Geo Group Inc (GEO.N), the latest "meme stock", slumped 8.8%, after surging more than 38% on Wednesday. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Edward Moya, Moya, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Clover Health Investments Corp, Wednesday, ContextLogic Inc, Clean Energy Fuels Corp, AMC Entertainment Holdings Inc, Geo Group Inc, Medicare, AMC, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
GameStop tumbles, other "meme stocks" falter after big runups
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell more than 17% on Thursday and other so-called meme stocks also declined, setting the stage for another roller-coaster session for stocks favored by retail investors on social media platforms. AMC shares were off around 11%. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Edward Moya, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Wedbush Securities, AMC Entertainment Holdings, Clover Health Investments Corp, Geo Group Inc, AMC, Medicare, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
GameStop falls 25% on potential share sale, other 'meme stocks' falter
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +3 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell 25% on Thursday and other so-called meme stocks also declined in a sell-off that hit a broad range of stocks favored by retail investors on social media platforms. "It appears that other companies, like GameStop, are hoping to follow AMC’s lead by issuing shares and otherwise profit from the meme stocks run up,” Ablin said. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Jack Ablin, ” Ablin, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, AMC Entertainment Holdings, Clover Health Investments Corp, Geo Group Inc, AMC, Cresset Capital, , Wedbush Securities, Medicare, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
Investors can't address the climate emergency on their own, but governments can't reach climate solutions without investors." "Investors can't address the climate emergency on their own, but governments can't reach climate solutions without investors." 'Our house is burning'The debate over how to respond to the climate crisis comes amid rising awareness from the public, business leaders and regulators about the consequences of climate change. Tobias Adrian, director of the IMF's monetary and capital markets department, told CNN Business the climate crisis could "absolutely" ignite a financial crisis. "Investors know that the impacts of the climate crisis are systemic financial risks," Lubber said in a statement, "and will worsen, if left unchecked."
Persons: Thomas DiNapoli, DiNapoli, Joe Biden, Biden, Apple, Gary Gensler, Jerome Powell, Christine Lagarde, Lagarde, Tobias Adrian, Mindy Lubber, Lubber Organizations: CNN Business, Investors, Fidelity, State, York, Allianz Global Investors, California, NDC, Securities and Exchange Commission, SEC, US Chamber of Commerce, Federal, Central Bank, Green Swan Conference Locations: York, United Kingdom, United States
Healthcare startup Transcarent just raised $58 million from investors including General Catalyst. Transcarent, a two-year-old healthcare startup led by former Livongo CEO Glen Tullman, just raised $58 million in its Series B round, the company told Insider. The haul valued Transcarent at almost $500 million, a person with direct knowledge of the matter told Insider. That puts the startup in competition with the industry's middlemen, like health plans with networks that Transcarent is bypassing. Transcarent, Tullman said, solves two problems that Livongo couldn't.
Persons: Catalyst, Glen Tullman, 7wireVentures, Kleiner Perkins, it's, Transcarent, Tullman, Hemant Taneja, Lee Shapiro, Taneja, he's, Livongo, they're, there's Organizations: Merck, Teladoc, Transcarent, SEC, 7Wire Ventures Locations: BridgeHealth, CirrusMD
State Street is creating a dedicated cryptocurrency division
  + stars: | 2021-06-10 | by ( Tanaya Macheel | ) www.cnbc.com sentiment -0.97   time to read: +2 min
State Street is creating a division dedicated to digital finance, which will comprise cryptocurrency, central bank digital currency, blockchain technology and tokenization, it announced Thursday morning. State Street Digital will be integrated with its proprietary electronic trading platform, which the bank plans to develop into one that can support crypto assets as well as other asset classes. State Street, which has $3.6 trillion assets under management and $40.3 trillion in assets under custody, is the second of the five major global custodians introduce a service for digital assets. Nadine Chakar, head of global markets at State Street, will lead the division and report to chief operating officer Lou Maiuri. The bank also said the division plans to create new liquidity venues for our clients and investors.
Persons: Ron O'Hanley, CNBC's Bob Pisani, Gary Gensler, BNY Mellon, Nadine Chakar, Lou Maiuri Organizations: Street, Securities and Exchange Commission, Wednesday, SEC, State
Bitcoin ETF hopefuls likely have a little longer to wait. New SEC Chair Gary Gensler may have taught a class on crypto at MIT, but that doesn't mean a bitcoin-based fund will immediately receive approval, King told CNBC's "ETF Edge." "People are sort of reading into it [like] that means that there's going to be green lights for a bitcoin ETF. We're not so sure that's the case," said King, who plans to convert Osprey's Bitcoin Trust (OBTC) to an ETF when the time is right. He added that he is "100% committed" to converting his firm's popular Grayscale Bitcoin Trust (GBTC) to an ETF "when the regulatory environment is ready to have it."
Persons: Greg King, Gary Gensler, King, CNBC's, It's, — haven't, Michael Sonnenshein, we're, Sonnenshein, that's Organizations: Securities and Exchange Commission, Osprey Funds, CNBC, . New SEC, MIT, SEC, Investments Locations: bitcoin
GameStop's stock value remains absurdly high as retail investors hold their positions. That stock value is completely disconnected from the business of GameStop. The ailing game retailer is in the middle of a "transformation," but new leadership isn't talking plans. Forget about the absurdly high value of GameStop stock — it has nothing to do with the company, and GameStop leadership has acknowledged as much. Before the company's stock price exploded as a so-called "meme stock," GameStop was in a years-long death spiral.
Persons: isn't, Sam Goody, Wall, Ryan Cohen —, Ben Gilbert, Cohen, how's Cohen, Cohen isn't, that's Organizations: GameStop, SEC, Tower Records, Twitter Locations: New York City
There's a new potential risk investors need to watch out for, and it's out of this world. Exchange-traded fund provider ProcureAM this week submitted a regulatory filing with the SEC citing a new unprecedented risk: unidentified aerial phenomena. "This is undoctored footage ... and we don't know what to make of it," ProcureAM CEO Andrew Chanin said. "To me, that just screams risk, risk, risk. "And in our world, risk disclosure is very important."
Persons: Jeff Bezos, Andrew Chanin Organizations: Exchange, SEC, U.S, Finance
When it comes to data on sustainable investing, asking the right questions is key. While these sustainable investment strategies have gained popularity with investors, data and reporting surrounding ESG factors can be opaque and confusing. The firm has two key goals in mind when it looks to ESG investing, Hoeppner said. Moderator Bradley Saacks asked the panelists about the regulatory environment for ESG investing. "All investment managers see ESG and sustainable investing as a commercial opportunity," Hoeppner said.
Persons: LGIM, Karen Karniol, Tambour, Bradley Saacks, John Hoeppner, Hoeppner, we're, It's Organizations: Finance, Bridgewater Associates, Legal, General Investment Management, Bridgewater, Securities and Exchange Commission, SEC Locations: Bridgewater, America
Is the SEC about to crackdown on the retail trading frenzy?
  + stars: | 2021-06-10 | by ( Melissa Lee | ) www.cnbc.com sentiment -0.99   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIs the SEC about to crackdown on the retail trading frenzy? Could the SEC be preparing to take on the meme trade? Former SEC branch chief Lisa Braganca discusses. With CNBC's Melissa Lee and the Fast Money traders, Dan Nathan, Guy Adami, Tim Seymour and Pete Najarian.
Persons: Lisa Braganca, Melissa Lee, Dan Nathan, Guy Adami, Tim Seymour, Pete Najarian Organizations: SEC, Fast Money
FILE PHOTO: A 2021 Lordstown Motors Endurance truck is pictured at the White House in Washington D.C. behind former U.S. President Donald Trump and two Lordstown employees. On Wednesday, Lordstown officials had no immediate comment, but Burns has scheduled an appearance with the Automotive Press Association next Tuesday. When Lordstown announced the SPAC deal, it boasted its electric truck would be first to market to serve commercial fleet customers. After Hindenburg’s report, Lordstown said the orders were nonbinding and on Tuesday it said it had no binding purchase orders. General Motors Co, which invested $25 million in cash in Lordstown and another $50 million in in-kind contributions including the Ohio plant, declined to comment.
Persons: Donald Trump, Carlos Barria, Lordstown, Steve Burns, Burns, Lordstown’s, Hindenburg, Nathan Anderson, Joseph Spak, COVID, Ford, Hermes Kaufmann Organizations: DETROIT, Lordstown Motors Corp, Motors, White, Washington D.C, REUTERS, Endurance, Automotive Press Association, DiamondPeak Holdings, Hindenburg Research, U.S . Securities, Exchange Commission, SEC, RBC Capital Markets, U.S . Department of Energy, DOE, Energy, Ford Motor Co, Ford’s, Fidelity Management & Research Co, Wellington Management Co, Fund, BlackRock Inc, BlackRock, General Motors Co Locations: WASHINGTON, Washington, Washington , U.S, U.S, Ohio, Hindenburg, Lordstown
The crypto-space needs more regulation to grow, Novogratz says
  + stars: | 2021-06-09 | by ( John Mccrank | ) www.reuters.com sentiment -1.00   time to read: +2 min
Representations of cryptocurrencies including Bitcoin, Dash, Ethereum, Ripple and Litecoin are seen in this illustration picture taken June 2, 2021. “We need some regulation,” he said at a conference held by Piper Sandler. The more clarity around cryptocurrencies, the better, said Novogratz, a former hedge fund manager at Fortress Investment Group and Goldman Sachs partner. “We have a lot of non-bank banks in the space that if I was the head of the SEC, I would regulate,” he said. “They regulate by litigation,” Novogratz said of the SEC, “and that’s not a great way to regulate and so my pitch would be clarity, clarity, clarity.”
Persons: Florence Lo, Mike Novogratz, , Piper Sandler, , Bitcoin, Gary Gensler, Novogratz, Goldman Sachs, ” Novogratz, that’s Organizations: REUTERS, Galaxy, . Securities, Exchange, Massachusetts Institute of Technology, Fortress Investment, SEC Locations: blockchain
A 2021 Lordstown Motors Endurance truck is pictured at the White House in Washington D.C. behind former U.S. President Donald Trump and two Lordstown employees. Lordstown in a Wednesday statement reaffirmed it has "adequate capital to continue operations, meet supplier obligations and begin limited production," but will need to raise additional funds and was in talks to do that. read moreLordstown's situation has raised doubts about forecasts the company made on Aug. 3, 2020, when it announced its deal to go public through a reverse merger with special-purpose acquisition company (SPAC) DiamondPeak Holdings. When Lordstown announced the SPAC deal, it boasted its electric truck would be first to market to serve commercial fleet customers. Investors in the initial SPAC deal included Fidelity Management & Research Co, Wellington Management Co, Federated Hermes Kaufmann Small Cap Fund and BlackRock Inc (BLK.N).
Persons: Donald Trump, Carlos Barria, Lordstown, Steve Burns, Lordstown's, Burns, Hindenburg, Nathan Anderson, Joseph Spak, COVID, Ford, Hermes Kaufmann Organizations: Motors, White, Washington D.C, REUTERS, Lordstown Motors Corp, Endurance, DiamondPeak Holdings, Hindenburg Research, U.S . Securities, Exchange Commission, SEC, RBC Capital Markets, U.S . Department of Energy, DOE, Energy, Ford Motor, Ford's, Fidelity Management & Research Co, Wellington Management Co, Fund, BlackRock Inc, BlackRock, Thomson Locations: Washington, Washington , U.S, U.S, Ohio, Hindenburg
SEC Pursuing Broad Review of Stock Market Structure, Chairman Says
  + stars: | 2021-06-09 | by ( Dave Michaels | ) www.wsj.com + 0.96   time to read: 1 min
BREAKING NEWSThe Securities and Exchange Commission is considering changing rules that govern how U.S. stocks are priced and traded, including pricing incentives that trading venues use to attract orders, Chairman Gary Gensler said Wednesday. More to follow
Persons: Gary Gensler Organizations: Securities, Exchange Commission
Southeast Asia's Grab sees $40 bln SPAC merger delayed to Q4
  + stars: | 2021-06-09 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore March 21, 2019. Picture taken March 21, 2019. REUTERS/Anshuman Daga/File PhotoSoutheast Asia's Grab, which is going public through a merger worth $40 billion with special-purpose acquisition company Altimeter Growth Corp (AGC.O), said on Wednesday it expects to complete the business combination during the fourth quarter. It is also was working with the SEC to obtain pre-clearance of certain accounting policies and related financial disclosures. As a result, Grab's financial information for those periods remain subject to further review and revision, it said in a statement.
Persons: Anshuman, Grab Organizations: Trade, REUTERS, Growth, U.S . Securities, Exchange, SEC, Thomson Locations: Asia, Singapore
Private equity and hedge funds have added to the fund's performance over the past 10 years, he said. The Ohio pension plan's holdings in private equity and hedge funds have stumbled. Private equity firms buy companies, borrowing money to do so, and hope to sell them at a profit later. In his research, Phalippou included rebuttals from private equity firms and a lobbying group that criticized his analysis, noting that investors are "highly satisfied" with private equity performance and disclosures. "The first issue is lack of transparency" in the pension plan's private equity and hedge fund investments, Rayfield said.
Persons: Dean Dennis, Patty, Dennis, Dennis family's, Dean, Patty Dennis, Underfunding, Nick Treneff, , Treneff, Carlyle, outperformance, Ludovic Phalippou, Phalippou, Robin Rayfield, Rayfield, Edward Siedle, hasn't, Rick Carfagna, I'm, Alissa Burton, Siedle, Rudy Fichtenbaum, Fichtenbaum Organizations: State, of Ohio, Wall, Ohio Retired Teachers Association, Vanguard, Fidelity, Social Security, National Association of State, Milliman Inc, California Public Employees, Apollo Global Management, Carlyle Group, Securities and Exchange Commission, Ohio, Association, University of Oxford's, Business, SEC, Study, Senate, Wright State University Locations: Cincinnati, Ohio, U.S, Genoa Township, Covid, Dayton
“I believe there are signs…that the NBBO is not a complete enough representation of the market,” Mr. Gensler said. Virtu handles between 25% and 30% of individual investors’ order flow in U.S. stocks, and its stock has rallied this year during the meme-stock frenzy. Mr. Cifu voiced confidence that Mr. Gensler and his staff would come to the same conclusion. Robinhood said in a statement that it was looking forward to engaging with the SEC on its review of market structure. The regulator will consider changes to that pricing system as well, Mr. Gensler said.
Persons: Gary Gensler, Gensler, , Mr, Piper Sandler, Virtu, , WSJ's Jean Eaglesham, aren’t, isn’t, Douglas Cifu, Cifu, , Robinhood, didn’t, ” Mr, Dave Michaels, Alexander Osipovich Organizations: Securities, Exchange Commission, AMC Entertainment Holdings Inc, GameStop Corp, SEC, Citadel Securities, Virtu, Inc, Piper Sandler Global Exchange, Robinhood, AMC, GameStop, Locations: U.S, United Kingdom, Canada, Australia
SEC Pursuing Broad Review of Stock-Market Structure, Chairman Says
  + stars: | 2021-06-09 | by ( Dave Michaels | Alexander Osipovich | ) www.wsj.com sentiment -0.99   time to read: +1 min
Speaking to an industry conference, Mr. Gensler outlined a broader examination of market structure than he had previously described. Mr. Gensler suggested individual investors might get better prices if more trading were done on public exchanges. Only about 53% of all trading in January was done on exchanges, while the rest involved wholesalers and broker-run trading venues known as dark pools, Mr. Gensler said. “The question is whether our equity markets are as efficient as they could be, in light of the technological changes and recent developments,” Mr. Gensler told the Piper Sandler Global Exchange and FinTech conference. Those off-exchange venues have to execute trades at prices at least as good as the national best price coming from the exchanges.
Persons: Gary Gensler, Gensler, , Mr, Piper Sandler Organizations: Securities, Exchange Commission, SEC, Citadel Securities, Virtu, Inc, Piper Sandler Global Exchange
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