NorthWest Biotherapeutics Inc (NWBO)

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Apologies if this is already known on the board.

From Google’s Bard

Rider 552, introduced by Congressman Steve Womack (R-AR) on July 17, 2023, would have prohibited the use of funds to finalize, implement, or enforce three SEC rules: Regulation Best Execution, Order Competition Rule, and Regulation NMS: Minimum Pricing Increments, Access Fees, and Transparency of Better Priced Order. The rider was defeated in a vote of 217-209, on July 17, 2023. with Democrats supporting the SEC and Republicans supporting the rider.

The three SEC rules that Rider 552 targeted were designed to protect investors and promote fair and efficient markets. Regulation Best Execution requires brokers to execute trades in the best interests of their clients. The Order Competition Rule requires exchanges to route orders to the best available market. Regulation NMS establishes minimum pricing increments and requires brokers to disclose certain information about their orders.

The MM's, a group of market makers, lobbied for Rider 552, arguing that the three SEC rules would harm their businesses. They argued that Regulation Best Execution would increase their costs, the Order Competition Rule would reduce their profits, and Regulation NMS would make it more difficult for them to compete.

The SEC opposed Rider 552, arguing that the three rules were necessary to protect investors and promote fair and efficient markets. The SEC also argued that the rider would undermine the SEC's authority and make it more difficult for the SEC to carry out its mission.

In the end, the rider was defeated in a vote of 217-209. This vote showed that there is strong bipartisan support for the SEC and its mission to protect investors and promote fair and efficient markets.

Additional information:
The MM's are a group of market makers, which are firms that buy and sell securities to provide liquidity to the market.
Regulation Best Execution was adopted by the SEC in 2018. The rule requires brokers to execute trades in the best interests of their clients, taking into account factors such as price, execution speed, and the likelihood of order completion.
The Order Competition Rule was adopted by the SEC in 2020. The rule requires exchanges to route orders to the best available market, which is the market where the order can be executed at the best possible price.
Regulation NMS: Minimum Pricing Increments, Access Fees, and Transparency of Better Priced Order was adopted by the SEC in 2005. The rule establishes minimum pricing increments for stocks and other securities, requires brokers to disclose certain information about their orders, and prohibits brokers from charging excessive access fees.
Why did the MM's lobby for Rider 552?
The MM's lobbied for Rider 552 because they believed that the three SEC rules would harm their businesses. They argued that Regulation Best Execution would increase their costs, the Order Competition Rule would reduce their profits, and Regulation NMS would make it more difficult for them to compete.

Why did the SEC oppose Rider 552?
The SEC opposed Rider 552 because they believed that the three rules were necessary to protect investors and promote fair and efficient markets. The SEC also argued that the rider would undermine the SEC's authority and make it more difficult for the SEC to carry out its mission.

Why was Rider 552 defeated?
Rider 552 was defeated in a vote of 217-209. This vote showed that there is strong bipartisan support for the SEC and its mission to protect investors and promote fair and efficient markets.