Gary Gensler, chairman of the U.S. Securities and Exchange Commission, testified on May 6 before the U.S. House Financial Services Committee about the stock moves of GameStop that started in January. Retail investors buying shares pushed the stock to a high of $483 from $20 two weeks earlier. Online brokerage firm Robinhood temporarily halted trading in GameStop after a surge in share purchases left it short on collateral.
Michael Bodson, chief executive of the Depository Trust & Clearing Corporation, and Robert Cook, the head of the Financial Industry Regulatory Authority, also testified.Gary Gensler listens during an interview with Reuters in London October 2, 2012.
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