Do Some Investors Have An Unfair Advantage?
July 25, 2009 by Mark Ellis
Filed under Business
According to New York Democratic Senator Charles Schumer, many of the more prominent Wall Street firms have a significant advantage over smaller firms because of their ability to access certain information more quickly. In order to alleviate this discrepancy, Schumer has called for federal regulators to keep a more vigilant eye on these firms.
In a letter addressed to the Securities Exchange Commission’s chairman, Mary Schapiro, Schumer encouraged the SEC to take action regarding this practice. Schumer also warned the SEC that if it would not be able to do anything to remove or mitigate the advantage, he would be forced …read more
