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Tim Quast
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We're All HFTs Now

In this guest commentary, author Tim Quast looks back at the history of HFT and how the market has evolved to where many firms now fit the definition of high-frequency trader.

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November 13, 2007

House Nixes Repealing Soft Dollars

By Peter Chapman

The House Committee on Financial Services will not take up the issue of repealing or revising Section 28(e) of the Securities Exchange Act of 1934 this year. Representative Paul Kanjorski, D-Pa., a member of the committee's capital markets subcommittee, told attendees at a recent industry conference that the issue of repealing soft dollars was not on the agenda, despite pleas from Securities and Exchange Commission chairman Chris Cox to the U.S. Congress to take the matter up. Kanjorski was speaking at the Securities Industry and Financial Markets annual institutional brokerage conference.