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August 31, 2021

Ian Katz quoted in Bloomberg

"Gensler Swims Against Tide in Payment-for-Order-Flow Fight" by Benjamin Bain and Robert Schmidt

Ian Katz quoted in Benjamin Bain and Robert Schmidt's Bloomberg article, "Gensler Swims Against Tide in Payment-for-Order-Flow Fight."

The article reads:

The SEC chief rattled Wall Street this week when he hinted in an interview with Barron’s that he may be willing to prohibit brokers from getting paid to send customers’ stock orders to trading firms. The practice is deeply ingrained and has been embraced by everyone from Robinhood Markets Inc. to Charles Schwab Corp. It’s also triggered an era of free trades. 

That’s why industry analysts and lobbyists argue that the SEC will tread carefully because it’s loath to take any action that could increase costs for retail investors. And there are questions about whether it would even be legal for the agency to issue a ban. Instead, most firms say they expect the regulator, after months of debate and rulemaking, to require brokers to better disclose how they profit from the arrangement. 

If Gensler does pursue harsher measures, they would likely take years to implement -- meaning brokers probably won’t have to revamp their business models anytime soon. 

“This process will likely take longer than some investor advocates had thought and hoped,” Capital Alpha Partners policy analyst Ian Katz said in a research note Tuesday. “The lapse of time invariably helps the opponents. It gives them more time to chip away at Gensler’s arguments.”

Full article:

June 12, 2019

Ian Katz quoted in Bloomberg

"Long-Shot Bid for Wells Fargo CEO Gains Steam as Others Pass" by Hannah Levitt

Ian Katz was quoted in Hannah Levitt's June 12, 2019 Bloomberg article, "Long-Shot Bid for Wells Fargo CEO Gains Steam as Others Pass." 

The article reads:

“There is a reason why the bank was looking outside, because they thought, among other reasons that that would go over better with people in Washington,” said Ian Katz, a financial public policy analyst at Capital Alpha Partners in Washington. “If they go with Parker or any internal candidate, they’re going to take some heat for it.”

Full article: