NASDAQ and NYSE sue SEC over plans to reorganize access to stock data

NASDAQ and NYSE sue SEC over plans to reorganize access to stock data

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Robinhood is in a hot legal mess and agreed to pay $65,000,000 to the SEC for its misleading practices and is being SUED in another lawsuit. It’s been a topsy turvey year for Robinhood app ranging from outages and hacks to increasing revenue and userbase. Robinhood IPO is even expected in 2021. Here is all the controversy explained (humorously and easy to follow), whether you should move to another brokerage stock trading app and what Robinhood should do to fix this mess. Although we usually do research on the best stocks to buy now, here’s some financial education on your brokerage! \n\n0:00 The Intro \n0:58 Robinhood News- Why Robinhood Sued.\n2:23 How Robinhood Makes Money\n4:22 Does this Affect You? Should you QUIT?\n7:12 What Robinhood SHOULD Do \n\n\nInterested in signing up for 1 on 1 lessons, my beginner’s guide or content collaborations? \nEmail: [email protected]\n\nYour free stock is waiting for you! Join Robinhood and we’ll both get a stock like Apple, Ford, or Facebook for free. Sign up with my link.\n\nGet two free stocks on Webull:\nMusic I use: \n\”Dreams\” by\nSummer –\nTwelve Speed – Slynk

NASDAQ and NYSE sue SEC over plans to reorganize access to stock data

Nasdaq Inc and the New York Stock Exchange (NYSE) are suing the US Securities and Exchange Commission (SEC) in an effort to block the regulator’s plans to review publicly available data feeds that broadcast stock prices to investors, as evidenced by court documents.

According to the SEC’s plan, approved in December, supply and demand data for shares will be added to public (public) channels, which will increase access to information that exchanges are currently selling to professional traders at a premium..

«Nasdaq believes the SEC has exceeded its mandate by adopting an ill-considered redesign of the market structure», – said a Nasdaq spokesperson in an email.NASDAQ and NYSE sue SEC over plans to reorganize access to stock data The statement says that this plan «will make the stock markets too complex and increase hidden costs for investors».

The documents were filed with the United States Court of Appeals for the District of Columbia (U.S. Court of Appeals District of Columbia Circuit).

The Wall Street Journal reported that Cboe Global Markets, which operates the Chicago Board Options Exchange (CBOE), has also sued the SEC over the matter..

This lawsuit is the latest legal action taken by exchanges against the SEC in recent years, including successfully challenging the SEC’s proposed experiment to limit trading fees for 1,400 different shares..

The SEC is also looking into other claims. In October, Citadel Securities sued the Securities and Exchange Commission for its decision to approve a new stock trading mechanism for exchange operator IEX Group Inc.