Interesting developments in the financial industry last week…The SEC, FINRA, and all exchanges actually agreed and reached consensus on a set of uniform circuit breakers that would be triggered if a security price moves 10% or more in a five-minute period…(all this as a result of the unbelievable fluctuation in the market on May 6, which one critic equates to the unpredictability of a casino).
By the way, that includes EVERY stock available in the U.S. I also read in this week’s OnWallStreet, that the proposal is now available for public comment.
So, my comment/question is, who’s going to “pull the trigger” when needed? And then we come to the next item of last week – our esteemed lawmakers have finally agreed to show Wall Street who’s in charge by passing more government regulation to oversee the financial industry.
I’m not commenting on this one other than to ask, “So what’s next?”