New York, June 13, 2022 (GLOBE NEWSWIRE) — In response to remarks from SEC Chair Gary Gensler on equity market structure reform, Security Traders Association (STA) issued the following statement from President and CEO Jim Toes:
“STA agrees with SEC Chair Gary Gensler that retail investors have greater access to the equity markets than ever before, and that technology continues to transform our equity markets, which today are highly competitive and serve a diverse set of market participants. We believe these developments have largely driven positive change, but recognize they also create the need to review and potentially enhance rules governing the current market structure.
“Changes to any rules – especially those involving systems as complex and interconnected as today’s U.S. equity markets – often have both intended and unintended consequences. STA members are employed at firms throughout the diverse market ecosystem, including retail brokerage firms, agency-only broker-dealers, asset owners and managers, market makers, liquidity providers, and exchanges. As the Commission considers market structure reforms, it is essential that any proposals provide meaningful opportunities for public feedback, fully consider a cost/benefit analysis, and take into account the potential for unintended consequences.”