As an arbitrator for over a decade for both the NYSE and NASD I admit the current system of the proverbial fox guarding the hen house needs change. Probably serious change.
The current set-up, in which the exchanges police their own brokers needs to be fixed. Now that the NYSE is a for-profit enterprise and faces an even greater obligation to eliminate any real or percieved regulatory conflict-of-interest, the problem is enhanced.
Especially if the NYSE uses their stock as currency to go on a global spending spree.
CEO & Partner, Parisian Family Office. Began Wall Street career in 1982. Founded investment firm, Native American Advisors, 1995. White Earth Chippewa, Tribal Member. Raised on reservations. Conservative. NYSE/FINRA arbitrator. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, he trades from Ghost Ranch on the Yellowstone River in MT, TN farm, Pamelot or CASA TULE', their winter camp in Los Cabos, Mexico. Always been, and will always be, an optimist.
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