The SEC has begun an investigation on whether or not certain stock brokerages have been engaging in a shady practice called flash trading. Flash trading is when stock brokers let stock brokers see the order they are putting into the market before they file it, which is considered to be the less ugly cousin of the ugly and illegal practice of insider trading. Security and Exchange Commission Chair Mary Schapiro is set to begin investigating the practice, and the SEC is considering a flash trading ban. New York Senator Charles Schumer is completely in favor of a ban, and it may take some payday loans at least to find out who has been flash trading.
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