Senator Schumer warns SEC on "flash" stock orders

U.S. Senator Charles Schumer warned a top regulator on Friday that if she does not ban so-called "flashes" -- orders that stock exchanges send to a select group of traders before revealing them to the wider market -- he will introduce legislation that does.

In a letter dated Friday to Mary Schapiro, chairman of the U.S. Securities and Exchange Commission, Schumer said this...