SEC's Stein says overseeing computerized trading will be 'biggest challenge'

2 January 2019 8:55pm
The US Securities and Exchange Commission’s biggest challenge going forward will be policing securities markets in light of technology advances that have speeded trading, departing Commissioner Kara Stein said recently.

“Everything’s happening in microseconds now,” she told a Washington group* shortly before the winter break. “It changes the paradigm on how we do almost all regulation.”

Stein, a Democrat, is stepping down today after more than five years at the SEC.

“The Commission needs to realize it’s overseeing technology companies now,” she said, “and we need to think differently about what regulation means when we’re regulating algorithms.”

*Women in Housing and Finance; Washington, DC; Dec. 18, 2018.