The SEC recently released proposed changes to the regulations that govern alternative trading systems, with particular emphasis on requiring additional disclosures by so-called “dark pools.”

If you think about it, the name alone is just about enough to stimulate the urge to regulate.

The proposed rules would, in broad strokes, require alternative trading systems to make real-time disclosures comparable to those required of registered exchanges. Critics of the SEC’s proposals complain that these new rules would hobble a useful marketplace, while supporters believe that the measures are an appropriate step towards maintaining a level playing field among equity investors.