Rulemaking by enforcement is causing uncertainty in the US - traders
Rulemaking by enforcement is increasing
regulatory uncertainty driving up costs and damaging US market
liquidity, according to leading market participants.
Speaking on the Washington outlook panel
at the FIA Chicago Expo Richard Gorelick, chief executive of
RGM Advisors, said the recent trend of US regulators relying on
enforcement actions to clarify rules was increasing uncertainty
"When rules are created in the court room
it creates huge amounts of uncertainty and that raises costs
for market participants and it ultimately reduces liquidity and
the health of our market."
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