SEC Commissioner Calls For Greater Transparency In Stock Market

Kara Stein, a commissioner on the Securities and Exchange Commission, called for greater transparency in the stock market, notably with more information on alternative trading systems and the development of a consolidated audit trail to track every order and trade made in the market. Stein noted that the so-called "dark" marketplace is becoming a larger force in the market, which may distort rather than enhance market price discovery. She also told an industry conference that she has seen "almost no progress" toward the development of a consolidated audit trail. "While transparency cannot do it all, it can go a long way towards restoring confidence and faith in the integrity of our marketplace," she said.