FINRA Official Urges 'Holistic' Approach To Trading Oversight
Law360 (February 22, 2021, 7:33 PM EST) -- A top Financial Industry Regulatory Authority official acknowledged Monday that the regulator is probing recent GameStop stock volatility, using the market phenomenon to urge member firms to dig deeper into customers' trading activity to uncover potential fraud or market manipulation.
Speaking at a virtual conference of the Securities Industry and Financial Markets Association, Greg Ruppert, head of the FINRA's National Cause and Financial Crimes Detection Programs, offered only a single mention of the GameStop frenzy.
"Like any market events, we're looking at identifying any compliance and risk concerns [and] we're coordinating with the [U.S. Securities and Exchange Commission] and the states,"...
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