Expanding on the risk management note Gallagher made, Carton asked during the session, “What about the fact that in the year 2021, you have the technology that would allow—I’m not going to call it a mob, but—a group of people on Reddit to be able to move the stock prices around crazily. Is there any problem with that?”
Gallagher, in reply, recalled his time as an SEC enforcement intern working on the first internet pump and dump case, involving Systems of Excellence. ”This stuff has been around forever. Social media is a bigger amplifier. It’s just more pervasive,” he said.
‘Enforcement 40’ for 2020
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