Senate hearings last week by the Banking Committee securities, insurance and investment subcommittee and the Special Committee on Aging addressed issues that top Securities and Exchange Commission Chairman Mary Schapiro's busy agenda. As Complinet has reported, the SEC recently held roundtables on the subjects of the hearings, trading strategies and target date retirement funds, and has several related rule proposals out for comment. With both lawmakers and the SEC looking into these areas, industry participants may have to choose whether they want new laws or just new rules, rather than whether to accept more oversight or lobby to maintain the status quo.
Trading strategies
Securities subcommittee chairman Jack Reed (D-RI) led a hearing on strategies that have been in the news as well on Schapiro's radar: dark pools, flash orders, high-speed trading and "naked" sponsored access. The panel heard from Senator Ted Kaufman (D-DE); co-acting director of the SEC Division of Trading and
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