WASHINGTON, Sept 14 (Reuters) – The U.S. Securities and Exchange Commission (SEC) is close to publishing a post-mortem of the GameStop trading saga in which retail investors on the Reddit social media site banded together to push up the video game retailer’s shares, SEC Chair Gary Gensler said on Tuesday.
Gensler said it is being reviewed by the SEC’s commissioners who typically sign-off on major policy decisions and reports. “It will be out shortly,” he said during his first appearance before the Senate Banking Committee as SEC chief.
While Gensler did not elaborate on what the report would say, it could have adverse implications for the retail brokers, hedge funds and clearing houses at the center of the saga which roiled Wall Street and sparked outrage from lawmakers.
The Reddit-fueled rally in January drove massive volatility in shares of GameStop Corp (GME.N) and other companies, prompting the post-trade “clearing” houses that guarantee trades to…