US regulators step up pressure on hedge funds

Gary Gensler wants to put his mark on the Securities and Exchange Commission (SEC). As he appeared before Congress for the first time since his appointment, the new boss of the American stock market policeman expressed his fears. According to him, the markets present several dysfunctions which led to the surge of certain values ​​at the beginning of the year, to colossal losses on the part of hedge funds which sold short, and to a limitation of the negotiations on the part of the applications. trading.

“I think that transparency is at the heart of the efficiency of the markets”, he explained during his hearing before the Financial Affairs Committee of the House of Representatives. Asked about the “GameStop affair”, he said that a report would be issued by the SEC during the summer. He estimated that new rules were undoubtedly necessary to regulate the applications which facilitated access to the Stock Exchange to millions of individuals. “Our laws need to be refreshed,” he conceded, as he questions the “gamification” of the Stock Exchange. “The apps made it easier, but we lost the human side. “

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