SEC probes "quote stuffing" practices: Schapiro
By Jonathan Spicer and Herbert Lash
Tue Sep 7, 2010 2:13pm EDT
NEW YORK (Reuters) - U.S. regulators are probing certain practices around "quote stuffing," where large numbers of rapid-fire stock orders are placed and canceled almost immediately, Securities and Exchange Commission Chairman Mary Schapiro said on Tuesday.
The SEC has undertaken a review of the structure of markets, which has changed dramatically over the years. Schapiro said many investors have complained to the SEC about U.S. market structure. "We must listen closely," she said.
Tuesday, September 07, 2010
A LITTLE LATE...
but at least the SEC is going to look into these odd trading patterns.
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