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...
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