May 6 2021 3:23pm

GameStop trading frenzy: FINRA CEO, SEC chair testify on short-selling practices, trading halts

The U.S. House Committee on Financial Services virtually met Thursday to discuss the GameStop trading frenzy that took place earlier this year, which sent shares in the company surging. Financial Industry Regulatory Authority (FINRA) CEO Robert Cook and U.S. Securities and Exchange Commission Chair Gary Gensler were asked about transparency for how and when trading halts are imposed between broker dealers and customers, disclosure around short-selling and how to ensure the market isn’t “manipulated.”

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