FINRA is the fox guarding the hen house. You see, the hen house has the hens that lay the golden eggs. The NYSE was toast after (it's anniversary today), March 7, 2006 of no longer being owned by seat holders. Today, it's been 19 years since the club sold out to other exchanges, dark pools, and HFT firms!
For over a decade I sat as a public arbitrator in proceedings between aggrieved parties, brokers, brokerage firms, and client/customers until the day all of the arbs in the NYSE and FINRA pools who were unbiased, fiduciary members/owners/employees of investment management firms were tossed out of the arb pools! It was shocking to hear but expected.
When the fox is guarding the hen house and the game warden can't protect the hens from honesty and truth, the house will do what they must to keep feeding the fox.
Here is more nonsense from regulators taking a few steps backward!
Joe Saluzzi is and has been at the forefront of market manipulation by HFT. Read his Substack here:
Tell me again why you wouldn't want the information to catch bad guys.
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