Sunday, April 29, 2012
Saturday, April 14, 2012
Before Reg NMS went into effect, the government had this big crackdown on the New York Stock Exchange specialists. They were sued civilly. They were indicted. I defended some of them. It was probably the greatest embarrassment in the history of the U.S. Attorney's Office of the Southern District of New York. They lost case after case.
A timely issue, with the fracturing of liquidity and the reduced role of the designated market maker.