well, kinda sorta...yes and no.
This was what always got me: there was a lady at NASD (coulda been NASDAQ, can find it) who pointed me to a private attorney at a big firm in NY, alluding that he orchestrated the fix. I spoke with him, and he said NASD would not list the r/s (ie, post it on dailylist) *over the company's objections.* In other words, it was his contention that MAMG wanted the r/s posted. (makes sense, except for adjusting pps) When I asked him about adjusting the pps to match the r/s, he said they (as in he & company) would have no control over that--"market rules" etc. I guess what I'm saying is it's not as though the regulators were at arms' distance, thereby granting TA free-hand to bully the brokers. Regulators imo worked to keep r/s off their books, yet *allowed* TA to instruct brokers. A subtle distinction, perhaps, but indicative to me of a systemic breakdown.... I have nowhere near the background that either of you have...