Southeastern Asset October 19th Comment Letter

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http://www.sec.gov/comments/s7-02-10/s70210-295.pdf

The Good Folks at Southeastern Asset have weighed in again with a new comment letter to the SEC. We like this short and to the point call for some simple reforms. You may recognize the three issues they raise, as we have raised them repeatedly as well.

1) Enhanced Data Feeds.

2) Inaccessible Liquidity. Is a quote that is good for a millisecond, that is cancelled nearly instantly, really a quote? If a tree falls in the woods…

3) Payment for order flow in all forms is a conflict of interest!

Thanks to the great people at S.A.M. for speaking out; it is what more Asset Managers need to do if there is any hope  of counteracting the lobbying efforts in Washington of “the other side.”

Kudos.