On the recordSeptember 16, 2009
A lot of the pushback is because in an opaque world, a call-around market, et cetera, you make more fees.
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congress.govA lot of the pushback is because in an opaque world, a call-around market, et cetera, you make more fees.
Gensler explains resistance to transparency due to potential loss of profits for some financial entities.
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I think that the Congress' wisdom was to have an agency to oversee disclosure-based markets where issuers are asking the public to buy and sell their securities.
I really do think it is such a privilege to serve and the important thing we do is we look out for 330 million Americans.
The New York Stock Exchange can't actually also run a hedge fund on and trade against their customers.