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Snub: STA Shut Out of Hearings: A Shocked Trade Group Does Not Make the VIP List

Traders Magazine, October 2002

Gregory Bresiger

There are two interesting and possibly controversial Securities and Exchange Commission hearings taking place this fall, but they will both possibly lack something - vital industry voices. Neither representatives of the trading industry's biggest broker dealer group nor an institutional trading group were on the panel as the SEC holds two hearings on market structure. One hearing was schedule for late October, another for mid-November. "I'm shocked and disappointed. We asked to be part of the panel," said John Giesea, president of the Security Traders Association. A spokesman for the Securities and Exchange Commission said "we were allotted a limited amount of time to discuss a broad range of issues. It would have been difficult to accommodate everyone in these initial hearings."

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