Some quick observations from today’s @FSCDems second hearing on GameStop (with thanks to Chair @RepMaxineWaters for the opportunity to testify):

Many open questions remain — and policy makers should work to ensure there aren’t data gaps as they investigate.

(THREAD)

/1

We need to know more about what the volume of over-the-counter options traded in $GME was in the period of highest volatility. How much GameStop were the Wall Street titans trading? https://t.co/tD2jvMMUCs
In the hearing, many Republicans implied in that ending payment for order flow (PFOF) would end zero commissions. But as I mentioned in my written testimony, there are brokerages like @public who ended PFOF but still offer commission free stock trades. /3
https://t.co/dAaqinMuaR
- Republicans seemed to trust the @SEC_News to investigate many things, like best execution. So I hope they support a well-funded SEC!

- We don’t know what amount of stock hedge funds are shorting, Bc it is not disclosed on the Form 13F /4
One quick win would be for @SecYellen to re-start the Hedge Fund working group at the Financial Stability Oversight Council. /5 https://t.co/6jILdug9sR
If confirmed, Gary Gensler and the SEC should consider prohibiting forced arbitration clauses and class action bans, so investors have a choice of venue when they are victims of wrongdoing. /6 https://t.co/rgr5HLlEYc

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