SEC Says It's Aware of Trading Frenzy
By Alexander Osipovich
The Securities and Exchange Commission broke its silence on the
volatility around GameStop and similar shares with a terse
statement released after markets closed on Wednesday.
"We are aware of and actively monitoring the on-going market
volatility in the options and equities markets and, consistent with
our mission to protect investors and maintain fair, orderly, and
efficient markets, we are working with our fellow regulators to
assess the situation and review the activities of regulated
entities, financial intermediaries, and other market participants,"
said the statement from SEC Acting Chair Allison Herren Lee and two
top staffers in charge of overseeing markets and protecting
Some traders and analysts have questioned whether the SEC would
take action to halt runaway volatility in stocks targeted by users
of Reddit's popular WallStreetBets forum, who have apparently
banded together to fuel huge run-ups in their share prices.
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January 27, 2021 17:31 ET (22:31 GMT)
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