September 28, 2012
The SEC's ongoing failure to address the grave issue of high-frequency, algorithm-based trading continues to erode small investor confidence in the basic fairness of stock market investing.
This systemic abuse, along with the coincident order flow manipulation, needs to be your number one regulatory priority.
Having experienced the inadequacy of SEC regulation during the WorldCom stock debacle, I feel confident hiring more lawyers for your staff is not the answer to these problems.
The SEC needs to hire far more software engineers with market experience.
The new "circuit breakers" also need to be extended throughout the trading day.
America, and the World, await your timely action.