Dueling Views on Auctions: Virtu and We the Investors on SEC's Plan

Also, ICI chief fact checks Yellen's criticism of money market funds

The SEC’s plan for setting up auctions to handle retail orders is by far the most controversial aspect of its stock trading overhaul. Chair Gary Gensler emphasizes that it will result in better prices and long-term cost savings for small investors. But large swaths of the financial industry (including brokers, asset managers and market making firms) see…