Richard Gorelick

What exactly that means at a certain level - when some of these behaviors have actually gone on on some of these exchanges for many years, allegedly - it's really interesting and it's confusing to market participants, it would have been far better if the rules of the road were clear from the get-go, if regulators of exchanges were very clear as to what the rules meant, and issued guidance on how they could be interpreted, rather than watching people go to jail or not go to jail in order to figure out what the rules are.

Richard Gorelick