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New Congressional Report On GameStop Trading Frenzy Rips Robinhood For 'Troubling Business Practices, Inadequate Risk Management'

Benzinga Real-time News ·  Jun 24, 2022 22:30

On Friday, the House Financial Services Committee released a report on the 2021 stock market drama surrounding Reddit's WallStreetBets, the trading appRobinhood Markets Inc(NASDAQ:HOOD), trading firm Citadel Securities and high-flying stocks likeGameStop Corp.(NYSE:GME).

What Happened?CongresswomanMaxine Waters(D-CA), chairwoman of the HFSC, released a new report entitled "Game Stopped: How the Meme Stock Market Event Exposed Troubling Business Practices, Inadequate Risk Management, and the Need for Regulatory and Legislative Reform."

Related Link: SEC Chair Gensler Proposes 'Open And Transparent Auctions' As Alternative To Controversial Payment For Order Flow

In the report...

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