#ANNE SHUMATE GOLAND TRIAL#

PFOF and excessive off-exchange trading persist because so many trading platforms rely on the revenue it generates, essentially productizing their clients. Such an approach would also consider exchange rebates and access fees, intelligent tick sizes, an order-by-order best execution standard, incentives to reduce fragmentation of markets (e.g., ending the subsidization of exchanges with SIP revenue), and ensuring that the NBBO properly reflects all supply and demand in the market. While there is no silver bullet to fixing markets, we believe that a holistic approach can solve many problems. The SEC needs to take action to change the current market structure, rejuvenate the price discovery process, incentivize diversity and competition, and simplify our markets. Included in this, we need regulatory intervention to repair a system that results in inferior execution quality for retail and institutional investors, and that has damaged markets and widened spreads for all participants. We are writing to urge you to address PFOF and the disparities in market structure that lead to excessive off-exchange trading as a top priority, and propose a rule that will truly reform our markets, not simply result in more disclosure. The segmentation of retail order flow away from lit markets means less competition and materially wider spreads as exchange toxicity increases. PFOF creates an intractable conflict-of-interest for brokers whose financial incentives are placed at odds with their duty of best execution.

These companies face little competition and amass greater market power, as two of these firms are responsible for a huge share of trading, both on-exchange and off. Gaps created by the lack of meaningful competition, transparency and simplicity have resulted in billions of dollars in annual Payment for Order Flow (PFOF) made from high-speed trading firms to brokers, while these firms generate multiples of this in revenue. But as more people earnestly participate in the markets than ever before, the opacity and complexity of markets has left them concerned that: markets are not adequately providing price discovery that too much power is concentrated in too few firms and that they cannot trust such a complex system that lacks appropriate transparency. Dead animals, including dogs, cats and chickens, were also found inside WilliamsвЂ™ home.In the last 18 months alone, 25 million new investors joined the stock market, and at their peak, retail investors made up more than 25% of the U.S. Several horses had to be put down when law enforcement arrived to find animals ranging from healthy to skin-and-bones. The most expensive horse was a National Champion Lipizzaner stallion for which she paid $13,000. Items included mares, stallions, colts, horse semen and semen collection equipment. Orange County CommonwealthвЂ™s Attorney Diana OвЂ™Connell says Williams took nearly $128,000 from money donated to her rescue operation, Peaceable Farm, and put it to use in her breeding operation. She can have no animal companions for five years. She was sentenced to 18 months to be followed by three years supervised probation and continued mental health treatment. In the plea deal, which combines both embezzlement and animal cruelty charges, Williams was convicted of one count of embezzlement with animal cruelty convictions dropped.

#ANNE SHUMATE GOLAND TRIAL#

(WINA) вЂ“ Anne Shumate Williams, the Orange County woman who had scores of horses and other animals seized from her farm two years ago, entered an Alford plea in her embezzlement trial on Thursday, December 7.

Anne shumate goland