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Testimony Before the House 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, trade, fragmentation and geopolitics

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

ContextBudget hearing before the House subcommittee that funds the SEC, the investor-protection agency, which wanted more staff to supervise fast-growing markets.

Why it mattersGensler asks appropriators for resources as robo-advice expands.

Problems raised
  1. Adviser clients grew 70 percent in five years.
  2. Robo-advisers expand quickly.
  3. Geopolitics challenges markets.
Solutions proposed
  1. Adapt oversight to algorithmic advice.
  2. Enhance efficiency, resilience and transparency.
  3. Secure resources for the SEC.
Read full speech on sec.gov ↗

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