SEC’s ‘Kid Glove’ Treatment of Exchanges Must Stop, Jackson Says (1)

Sept. 19, 2018, 3:54 PM; Updated: Sept. 19, 2018, 6:39 PM

The SEC should stop using “kid gloves” on stock exchanges as they have evolved from nonprofit organizations to for-profit companies in recent years, agency Commissioner Robert Jackson said Sept. 19.

The Securities and Exchange Commission is struggling to keep up with its oversight of exchanges, including the Nasdaq Stock Market, Intercontinental Exchange Inc.’s New York Stock Exchange, and those run by Cboe Global Markets Inc., Jackson said during a discussion on exchange regulation in Arlington, Va.

Exchanges are “taxing American investors with hidden fees and conflicts of interests,” said Jackson, a left-leaning independent. The agency must begin...

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