A Lift for Gensler? An Ex-SEC Chief Economist Throws His Support Behind Auction Proposal

Also, SEC alleges Binance's U.S. business was pretty much a ruse from day one; OCC signals it backs tougher rules for collective investment trusts; Republicans go after Treasury and SEC on ESG

There’s been plenty of debate, pro and con, over the SEC’s wide-ranging market structure revamp. But there’s one aspect that has drawn almost no support – setting up auctions to handle retail orders. Brokerages and trading firms say the proposal is a dangerous experiment that would likely lead to unfilled orders and higher costs for investors, threateni…