Difference between revisions of "Eric T. Schneiderman"

From MarketsWiki
Jump to navigation Jump to search
Line 17: Line 17:
Eric T. Schneiderman is the 65th Attorney General of New York State. He was elected on November 2, 2010. As Attorney General, he is the highest ranking law enforcement officer for the State, responsible for representing New York and its residents in legal matters.  
Eric T. Schneiderman is the 65th Attorney General of New York State. He was elected on November 2, 2010. As Attorney General, he is the highest ranking law enforcement officer for the State, responsible for representing New York and its residents in legal matters.  


In 2014, he spearheaded an effort to crack down on high frequency traders and began looking into services that allow fast traders to profit on important information before other investors see it. He urged regulators and stock exchanges to curb some of these practices, which he said helped foster what he called “insider trading 2.0.”  He focused on the exchanges in particular, including the New York Stock Exchange and Nasdaq, because they permit high-frequency traders to pay to "co-locate" their computer servers within the exchanges’ data centers, thereby cutting milliseconds off the time it takes them to receive market information.
In 2014, he spearheaded an effort to crack down on high frequency traders and began looking into services that allow fast traders to profit on important information before other investors see it. He urged regulators and stock exchanges to curb some of these practices, which he said helped foster what he called “insider trading 2.0.”  He focused on the exchanges in particular, including the New York Stock Exchange and Nasdaq, because they permit high-frequency traders to pay to "co-locate" their computer servers within the exchanges’ data centers, thereby cutting milliseconds off the time it takes them to receive market information.<ref>{{cite web|url=http://dealbook.nytimes.com/2014/03/18/schneiderman-announces-inquiry-into-services-for-high-speed-traders/|name=Inquiry Into High-Speed Trading Widens|org=New York Times Dealbook|date=March 20, 2014}}</ref>


== Background ==
== Background ==

Revision as of 16:52, 20 March 2014


FTSE Russell banner 2016.gif
FTSE Russell banner 2016.gif


Eric T. Schneiderman
Occupation Attorney General
Employer New York State

Eric T. Schneiderman is the 65th Attorney General of New York State. He was elected on November 2, 2010. As Attorney General, he is the highest ranking law enforcement officer for the State, responsible for representing New York and its residents in legal matters.

In 2014, he spearheaded an effort to crack down on high frequency traders and began looking into services that allow fast traders to profit on important information before other investors see it. He urged regulators and stock exchanges to curb some of these practices, which he said helped foster what he called “insider trading 2.0.” He focused on the exchanges in particular, including the New York Stock Exchange and Nasdaq, because they permit high-frequency traders to pay to "co-locate" their computer servers within the exchanges’ data centers, thereby cutting milliseconds off the time it takes them to receive market information.[1]

Background[edit]

Schneiderman previously spent 15 years in private practice as an attorney, and later as a partner, at the firm of Kirkpatrick and Lockhart, where he handled complex litigation. He was also a public interest lawyer for many years.

Education[edit]

Schneiderman graduated from Amherst College in 1977 and Harvard Law School in 1982.

References[edit]

  1. Inquiry Into High-Speed Trading Widens. New York Times Dealbook.