REPORT: SEC Planning 'Purge' Of High-Frequency Traders

The New York Post’s John Aidan Byrne reports the SEC is planning a sweeping campaign against high-frequency traders in the wake of revelations about the extent of their impact published in Michael Lewis’ book “Flash Boys.”

Byrne says a series of new regulations and enforcement actions by the agency will amount to a “purge” of the sector, competition against which “Flash Boys” protagonist Brad Katsuyama described as like “getting screwed, but [I] couldn’t figure out who was screwing me.”

“You’ll probably see the commission coalesce around those enforcement cases and then bring new rules on high-frequency trading,” a source with knowledge of the SEC’s thinking told the Post. “There’s a lot of pressure on the SEC to act.”

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