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SEC flexes muscle as Reddit trading frenzy continues

The Reddit community is turning up the heat for the SEC and other regulators

By Suzanne O’Halloran


As GameStop and other Reddit favorite stocks remain heavily shorted and subject to large swings, the Securities and Exchange Commission, on Tuesday, announced steps to speed up how it handles probes by senior officials by giving them more legal enforcement authority.

“This will empower senior officers to exercise the delegated authority of the Commission to authorize staff to subpoena documents and take sworn testimony. This delegation of authority will enable investigative staff to act more swiftly to detect and stop ongoing frauds…

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