SEC Chair White Sets Equity Market Structure Agenda
- SEC Chair Mary Jo White delivered speeches on June 5, 2014 and June 20, 2014 setting forth her agenda for the future structure of U.S. equity markets.
- The agenda will include new initiatives to prevent market instability; better regulate technology, including HFT; improve market transparency and trading venue regulation; mitigate conflicts of interests, and incentivize small issuers to access the public markets. The SEC will utilize its market structure web site as a greater resource for market participants, and form an advisory committee to make recommendations for changes.
- Three trends emerge from Chair White’s speeches: First, the SEC will adopt the role of technology regulator. Second, the SEC will try to bring previously unregulated market participants into the fold of FINRA membership and broker-dealer registration. Third, the SEC remains committed to improved transparency in the markets as a means for improving execution quality.