U.S. SEC chair says reviewing short-selling, swap rules after GameStop, Archegos sagas

Reuters2021-05-06

The U.S. securities regulator is considering measures to require big investors to disclose more about short positions, or bets that stocks will fall, use of derivatives to bet on other stock moves and...

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Comments

Cccccccccccc
2021-05-06
Cccccccccccc
A
KelvinChan
2021-05-06
KelvinChan
Y
- KelvinChan:
  y
erichosk
2021-05-06
erichosk
Retail investors will lose the fight.
kcwang4982
2021-05-06
kcwang4982
Gkk
boonhong21
2021-05-06
boonhong21
Don’t protect them big boys. Please like and comment [Happy]
- Huathk:
  Gd
Aldrin
2021-05-06
Aldrin
To the moon

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increasing transparency around securities lending, which underpins short-selling; and new reporting rules for the \"total return\" equity swaps that felled Archegos, a family office.In addition, Gensler has asked staff to draft a request for public input into how trading apps entice retail customers using game-like features such as points, rewards, bonuses, and competitions, according to his testimony.\"We need to ensure investors using apps with these types of features continue to be appropriately protected,\" he will say.Gensler did not elaborate on the timing for any potential regulatory proposals, which typically must go through a lengthy rule-making process including public feedback.Shares of GameStop soared in January after retail investors congregating on Reddit and trading on low-cost brokerage platforms bought shares in the video game retailer, causing big losses for hedge funds that had shorted the stock.That episode was followed in March by the collapse of Archegos, whose soured media stock bets left the fund and banks that financed its trades nursing roughly $10 billion in losses.\"The professional investor community on Wall Street and Reddit rebellion of retail investors at home will be carefully listening to what the SEC chairman has to say about his thinking on how these financial activities are regulated,\" said Dennis Kelleher, chief executive of Washington-based Better Markets.As volatility soared in January, retail broker Robinhood curbed buying in GameStop and other stocks because it could not provide the cash its clearinghouse, the Depository Trust & Clearing Corp (DTCC), required to guarantee those trades during the two days it takes them to settle.Gensler has directed SEC staff to draft a proposal on expediting the settlement process to reduce system risks, according to his testimony.The heads of the DTCC and the Financial Industry Regulatory Authority, which oversees brokers, will testify alongside Gensler.Gensler’s promises to Congress spell disruption for Wall Street. 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Please like and comment [Happy]&nbsp;","listText":"Don’t protect them big boys. Please like and comment [Happy]&nbsp;","text":"Don’t protect them big boys. Please like and comment [Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/105312673","repostId":1166400085,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4239002,"gmtCreate":1620279822824,"gmtModify":1680787252431,"authorId":3573472992263411,"author":{"id":3573472992263411,"idStr":"3573472992263411","authorId":3573472992263411,"name":"Huathk","avatar":"https://static.tigerbbs.com/43c7168c646d9ea6805194ed0003f1cc","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105312673,"type":1,"supId":0,"prevId":0,"content":"Gd","text":"Gd","html":"Gd"}],"langContent":"EN"},{"id":105318732,"gmtCreate":1620269360126,"gmtModify":1704341100523,"author":{"id":"3575679268168880","authorId":"3575679268168880","name":"Aldrin","avatar":"https://static.tigerbbs.com/5f21ee5e223486461b452fe52c3d77fc","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3575679268168880","idStr":"3575679268168880"},"htmlText":"To the moon","listText":"To the moon","text":"To the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105318732","repostId":1166400085,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":61,"commentSize":19,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1166400085"}