Comment Text:
It is necessary for the sake of all market participants that Self Regulated Organizations are help to the highest possible scrutiny in regards to reporting requirements. Opacity in the reporting requirements not only makes it harder for regulatory bodies to detect malfeasance but it also dilutes the effectiveness of current regulations over securities themselves. Between ex-clearing, dark pools and their ability to manipulate NBBO, and lax reporting on swaps, the stock market has only become a final settlement vehicle. One in which most price discovery happens off exchanges, and on the books of institutions. The mechanics above need to be disclosed to the public, if the public is to have the ability to make informed decisions in the market place.
