SEC, CFTC Lay Out Concerns About Tech, Resource Gap

Law360, New York (December 8, 2010, 7:24 PM EST) -- The May 6 flash crash, in which the Dow Jones Industrial Average plunged nearly 700 points in a matter of minutes before rebounding, has highlighted the government's need for new technologies and resources to keep up with traders, top regulators said Wednesday.

The rise of high-frequency trading, among other things, has heightened concern about whether long-term investors have an equal opportunity to get the best price in the marketplace, according to U.S. Securities and Exchange Commission Chairwoman Mary Schapiro, who testified at a joint Senate subcommittee...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.