Who wins if the SEC implements a ban on PFOF/Exchange Rebates?
Host: Peter Haynes, Managing Director and Head of Index and Market Structure Research, TD Securities
Guest: J.W. Verret, Associate Law Professor, George Mason University
What legal action can the Securities and Exchange Commission (SEC) take toward a ban on PFOF and rebates? Professor J.W. Verret and Peter Haynes explore SEC's previous attempt to study exchange rebates in the D.C. Circuit Court of Appeal, what makes this case different and how the SEC may be able to defend itself against counter legal actions. Verret also weighs in on another market structure case in front of the D.C. Circuit: Citadel vs. the SEC's approval of the Investor Exchange (IEX) D-Limit order.
Managing Director and Head of Index and Market Structure Research, TD Securities
Managing Director and Head of Index and Market Structure Research, TD Securities
Managing Director and Head of Index and Market Structure Research, TD Securities