SEC battles slow bureaucracy and fast technology

Gary Gensler, chairman of the U.S. Securities and Exchange Commission, testified on May 6 before the U.S. House Financial Services Committee about the stock moves of GameStop that started in January. Retail investors buying shares pushed the stock to a high of $483 from $20 two weeks earlier. Online brokerage firm Robinhood temporarily halted trading in GameStop after a surge in share purchases left it short on collateral.

Michael Bodson, chief executive of the Depository Trust & Clearing Corporation, and Robert Cook, the head of the Financial Industry Regulatory Authority, also testified.Gary Gensler listens during an interview with Reuters in London October 2, 2012.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SEC chief warns of growing monopoly power among market makers, retail brokers at GameStop hearingSEC Chairman Gary Gensler warned lawmakers that growing concentration in the securities wholesaling and brokerage industries could lead to market “fragility,” and increased costs for retail and institution investors. It's boring to sit at home alone, looking for someone to spend time with STOP LIVING FROM Paycheck to Paycheck, earn money at home! Earn over(0.12BTC )€5000 in bitcoin or more weekly with little time set outs...no experience required 100% guide ...earn from the comfort of your home Sofiakingston_ Time to give your boss a call. Citadel
Source: MarketWatch - 🏆 3. / 97 Read more »