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Testimony Before the Senate Appropriations Subcommittee on Financial Services and General Government

· Gary Gensler, Chair of the U.S. Securities and Exchange Commission (United States)

Summary written by Dark Majestic in its own words · topics: financial stability

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· Gary Gensler Wiki · U.S. Securities and Exchange Commission WikiTestimony Before the Senate Appropriations Subcommittee on Financial Services and General Government

ContextBudget hearing before the Senate subcommittee that funds the SEC, the agency that polices US securities markets, as it sought resources to oversee crypto and complex trading.

Why it mattersGensler asks senators for more staff for enforcement and examinations.

Problems raised
  1. Enforcement faces larger, more complex cases.
  2. Vulnerable investors need protection.
  3. Thousands of registrants must be examined.
Solutions proposed
  1. Add enforcement staff.
  2. Conduct examinations on legal duties to clients.
  3. Strengthen fund and adviser oversight.
Read full speech on sec.gov ↗

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