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Testimony of the Securities and Exchange Commission Before the United States House of Representatives Committee on Financial Services

· 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 of the Securities and Exchange Commission Before the United States House of Representatives Committee on Financial Services

ContextHearing of all SEC commissioners before the House Financial Services Committee; the SEC protects investors and keeps US markets fair and orderly, and its rule-making pace was under fire.

Why it mattersGensler defends his rulemaking record against sharp criticism from lawmakers.

Problems raised
  1. Fund names can mislead investors.
  2. Seniors and vulnerable investors need protection.
  3. Order execution lacks competition.
Solutions proposed
  1. Phase in the updated Names Rule.
  2. Examine registrants' duties to clients.
  3. Propose rules for more competition in order execution.
Read full speech on sec.gov ↗

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