Sources told Charlie Gasparino of FOX Business that Gary Gensler is likely to examine Robinhood’s business model and his use of ‘behavioral commands’ to attract investors.
Lawmakers questioned President Biden’s choice to head the Securities and Exchange Commission, Gary Gensler, on Tuesday, and he took the difficult questions calmly.
Its confirmation audience comes at a precarious time for the US financial markets, which are seeing a sharp increase in retail traders. These small investors are behind some of the recent swings linked to heavily sold stocks, such as GameStop and AMC.
SEC SUSPENDS TRADING ON SELECTED OTC NAMES
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP | 120.66 | +1.16 | + 0.97% |
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 8.62 | -0.58 | -6.30% |
Gensler, who previously led the Commodities Futures Trading Commission with an iron fist, talked about bitcoin, the role of technology in the financial markets and suggested a possible review of how the ‘flow of payment requests’ works amid the continuing consequences of trading the Robinhood stop in January.
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