The Financial Planner's Briefcase

Oberg: SEC Must Heed Uptick Rule Support

 

Thanks to all who joined us in sending this message to our regulators. Hopefully the SEC will recognize that they exist to protect all market participants, not just a privileged few, and they exist to protect market integrity. The voices heard do not represent special interests that benefit from increased transaction volume (because volume does not necessarily mean "liquidity"), the voices do not benefit from lending their stock portfolios, and the voices do not benefit from unfettered ability to pummel stocks and sop up available liquidity. Maybe these voices will make a difference in this debate.

If you missed out on our comment letter, or would like to voice your own opinion, you still have time. The comment window is open until June 19, and I'd urge everyone to speak up on this matter--whether you agree with us or not. Click here to add your comment.

>To order reprints of this article, click here: Reprints

Eric Oberg worked in fixed income, currencies and commodities for Goldman Sachs for 17 years before retiring as a managing director.

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