The main headlines from Mary Jo White’s Congressional testimony yesterday centered around her saying the markets were not “rigged,” yet several little known sentences could potentially lead to a significant policy shift at the agency regarding “rigging” investment disclosure, according to regulatory sources and recent on the record statements. A new, aggressive SEC policy could impact alternative investment mutual funds, but it is unclear if this will impact "Dark Pools" used in high frequency trading, including the payments from exchanges to brokerage firms and the general lack of transparency.
SEC may target fund with cryptic fee disclosure and conflicts of interest
White's statement essentially said the SEC's policy of allowing what critics say...
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