Wall Street

U.S. SEC chief unveils plan to overhaul Wall Street stock trading

Published by
Reuters UK

By Katanga Johnson and John McCrank WASHINGTON/NEW YORK (Reuters) -The top U.S. securities regulator on Wednesday unveiled a planned overhaul of Wall Street retail stock trading rules, aiming to boost competition for handling orders by commission-free brokerages to ensure mom-and-pop investors get the best price for trades. U.S. Securities and Exchange Commission chair Gary Gensler told an industry audience he wants to require trading firms to directly compete to execute trades from retail investors. The Wall Street watchdog plans to scrutinize growth in recent years of the payment for order f…

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