What has become clear is that almost nothing is clear about how fees and rebates impact both execution decision-making and execution quality, so the SEC’s social experiment is a worthwhile effort. We just need to make sure that it yields the most reliable results possible. In that regard, we should understand the many risks and difficulties involved in scientific experiments, particularly experiments in the social sciences. George Bollenbacher, CMA’s Head of Regulatory Reform, gives his analysis of the SEC’s Transaction Fee Pilot and its effects.
Read the full article here: https://tabbforum.com/opinions/living-in-the-laboratory-understanding-the-secs-transaction-fee-pilot
