SEC chair reviews ‘uneven’ US equities market
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 9 June 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
The chair of the US Securities and Exchange Commission has outlined plans to overhaul what he described as an “uneven” and unfair US equity market; pain in the US municipal debt market has started to subside after the worst start to the year in four decades. Plus, the FT’s Patricia Nilsson chats with Marc about the new FT podcast she co-hosts with global media editor Alex Barker, called “Hot Money: Porn, power and profit”.
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Mentioned in this podcast:
SEC chief launches review of ‘uneven’ US equities market
Bleeding stops in US muni bonds as investors seek slowdown protection
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.7 | Good morning from the Financial Times. Today is Thursday, June 9. |
| 0:13.2 | And this is your FT News Briefing. |
| 0:18.4 | Washington's top securities watchdog plans and overhaul of U.S. equity markets, |
| 0:23.2 | municipal debt is back in fashion, and our consumer industries reporter, |
| 0:27.7 | Patricia Nielsen has spent the past year and a half investigating the global |
| 0:31.3 | business of pornography. I've never looked into an industry where |
| 0:38.2 | it is so difficult to find out who actually controls a company. |
| 0:44.7 | Patricia's co-hosting a new podcast series that lays out what she found. |
| 0:48.5 | It's called Hot Money. She'll tell us a bit about it on the show. |
| 0:52.4 | I'm Mark Filipino and here's the news you need to start your day. |
| 1:03.4 | Yesterday, the head of the U.S. Securities and Exchange Commission called the U.S. |
| 1:06.7 | Stock Market uneven. It's not clear given the current market segmentation, |
| 1:12.4 | concentration, lack of level playing field that our current national market system is |
| 1:17.6 | fair and as competitive as possible for investors. |
| 1:21.3 | I think we can do better here. Gary Gensler has asked his staff to consider |
| 1:25.0 | some major changes, including a possible auction process to increase |
| 1:29.1 | competition between services for retail investors. |
| 1:32.1 | Here's our U.S. Capital Markets correspondent, Nick McGott. |
| 1:34.9 | Gensler has been concerned since he took over the SEC last year about the treatment of retail |
| 1:42.5 | investors and specifically what happens after you click buy on your Robinhood or Schwab or whatever |
... |
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