Brokers have a fiduciary duty to achieve best execution for their clients when executing orders. All too often, brokers have hidden behind technology and complexity to get “good enough” execution, rather than best execution. All too often, brokers have routed orders for their own financial interests without disclosing it to their clients, rather than to maximize execution quality for their clients. Payment for order flow and exchange rebates create an intractable conflict of interest, and while disclosure is a step forward, the only solution is to dramatically reform order routing inducements and the brokers’ responsibility of best execution. This can be done by ending inducements, or passing them through to the investor, and by adopting an order-by-order standard for evaluating trade outcomes. Once again, technology has moved ahead of regulation, and it is time to catch up.
Our top priority right now
It's proposing to rescind Rule 611, the Order Protection Rule that has guaranteed every investor the best publicly displayed price since 2005. Comments are due August 17, 2026, and it takes about two minutes.
Comment to the SEC →Over 100,000 individual investors strong. Get alerted the moment there's a new way to take action.
Your email is never shared or sold.
Before you go
We're over 100,000 individual investors, and we win by showing up in numbers when it counts. Leave us your email and we'll tell you the moment there's a rule, a comment period, or a vote worth your two minutes.
No spam, a few emails a year, and your address is never shared or sold.
Thanks for joining us. Watch your inbox — we only write when there's something to do.
Take action right now →