WASHINGTON (AP) — The top U.S. securities regulator says she is taking steps aimed at making trading in the bond markets more transparent for investors.
Mary Jo White, chair of the Securities and Exchange Commission, said Friday that technology and competition have benefited and transformed the stock market. But she says they have not yet had the same effect in the bond markets.
She says trading in the $11.3 trillion market in corporate bonds and the $3.7 trillion municipal-bond market continue to be dominated by big Wall Street firms, making it hard for investors to know whether they are being charged reasonable fees.
Her comments came in remarks to the Economic Club of New York.
White says she is working with other market regulators on how to use technology to make bond trading and prices clearer for the public.