The main US markets watchdog has released the outlines of the most sweeping overhaul of stock trading in more than a decade, with a goal of improving prices for small investors.
Gary Gensler, chair of the Securities and Exchange Commission, said markets were not “as fair and competitive as possible” as he and other commissioners began a meeting on Wednesday to discuss and vote on four rule proposals.
“The markets have become increasingly hidden from view, especially for individual investors,” he added in prepared remarks. “This is in part because there isn’t a level playing field among different parts of the market: wholesalers, dark pools and lit exchanges.”