Byline: SCOT J. PALTROW Los Angeles Times
NEW YORK In a major policy reversal, the Securities and Exchange Commission said Wednesday that it will force the Nasdaq stock market to make its trading systems give more priority to small-investor orders.
The SEC commissioners said their decision was based on concerns that both Nasdaq's current system, and a planned new one for handling such orders, give unfair advantages to dealers of Nasdaq stocks over small investors.
The SEC action means that, starting March 27, certain orders from small investors for as many as 1,000 shares must be executed automatically at posted market prices. Nasdaq had been …
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