Wall Street's Other Market Structure Battle: SEC Rebate Rule Pits Brokers Against Brokers, Exchanges Against Exchanges

Also, Finra publishes study on minority investors; PCAOB names new GC

Policy battles can get ugly, especially when there’s lots of money at stake. Case in point: the fight that is brewing over the SEC’s most recent market structure proposal – an effort to prohibit rebates that stock exchanges give their biggest customers. Designed to attract trading volume, the payments (at least by some estimates) can bring in hundreds o…