Biden's pick for SEC flags trading app gimmicks for scrutiny
March 3, 2021
WASHINGTON (AP) — President Joe Biden's choice to head the Securities and Exchange Commission told Congress on Tuesday that the agency should address how to protect investors who use online stock-trading platforms with flashy tech gimmicks that entice them to trade more.
Gary Gensler, who was a chair of the Commodity Futures Trading Commission during the Obama administration, testified by video for his confirmation hearing by the Senate Banking Committee. He was asked about the roiling stock-trading drama involving GameStop shares that has spurred clamor for tighter regulation of Wall Str...