SEC Launches Review Of High-Frequency Traders’ Market Abuses
Tyler Durden, 09 June 2021
Nearly 8 years have passed since Michael Lewis published “Flash Boys”, raising awareness of the relatively new practice of high-frequency trading and its transformative impact on markets, allowing the most technologically-advanced traders to effectively see a picture of the market that’s nanoseconds ahead of what their non-NFT peers see, giving them a massive advantage.
Now, the SEC is finally considering changing the rules of how stocks are priced and traded to stop exchanges from incentivizing brokers (nowadays, particularly retail trading brokerages that have seen an explosion of activity in the past couple of years).
Naked shorting is trending on Twitter (NYSE:TWTR) today and it looks like there’s no end in sight to the meme stock mania as users react to the news that kicked this all off.
The sale last month of a digital piece of art for a near-record price raises new questions about a technology that the financial sector sees as offering great opportunity. 
Mary Jo White is an American attorney who served as the 31st Chair of the Securities and Exchange Commission (SEC) from 2013 to 2017. She was the United States Attorney for the Southern District of New York, serving from 1993 to 2002. On January 24, 2013, President Barack Obama nominated White to replace Elisse B. Walter as Chair of the U.S. Securities and Exchange Commission. She was confirmed by the Senate on April 8, 2013 and was sworn into office on April 10, 2013. On November 14, 2016, White announced she would step down from her SEC position at the end of the president’s term and is now the Senior Chair at Debevoise & Plimpton. She received a bachelor of arts from the College of William & Mary in 1970. She earned an master of arts in psychology in 1971 from The New School for Social Research and a Juris Doctor degree from Columbia Law School in 1974.