Citadel Securities and a trade group sued the Securities and Exchange Commission on Tuesday over changes the regulator is making to how trading data are reported and paid for in the markets.
Ken Griffin’s market-making firm and the American Securities Association petitioned the 11th US Circuit Court of Appeals in Atlanta to review the SEC’s approval of the funding model for the Consolidated Audit Trail.
The action was “in response to widespread investor concerns about transparency, governance, costs, and data privacy,” a Citadel Securities spokesperson said in an emailed statement. “The SEC has overstepped its statutory authority and failed to address investor and industry concerns, leaving us no choice but to litigate.”
In response to a request for comment, the SEC said in a statement that it “undertakes its regulatory responsibilities consistent with its authorities.”
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
It's the mega-RIA firm's third $1B+ acquisition in just three months.
The deal marks a strategic entry into private asst markets for the ETP, ETF innovator.
Wall Street leaders propose ways to monetize the mortgage giants.
Changes in legislation or additional laws historically have created opportunities for the alternative investment marketplace to expand.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
