Outgoing Federal Reserve Chair Janet Yellen is holding a press conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, USA, on December 13, 2017.
Jonathan Ernst | Reuters
U.S. Treasury Secretary Janet Yellen is convening a meeting of key financial regulators this week to discuss market volatility driven by GameStop retail and other stocks.
Yellen will convene heads of the Securities and Exchange Commission, the Federal Reserve, the Federal Reserve Bank of New York and the Commodity Futures Trading Commission, a Treasury official said Tuesday.
Yellen has asked permission from ethical lawyers to do so, according to the document seen by Reuters.
Yellen’s decision to ask for resignation follows a Reuters report that, due to speech fees, was paid for by a key player in the GameStop saga, the Citadel hedge fund, he may have to ask for a waiver. ‘ethics to do so.
The Treasury official, who declined to be identified by his name, said the meeting would be called this week and possibly Wednesday.
“Secretary Yellen believes that the integrity of markets is important and has called for a debate on the recent volatility of financial markets and whether recent activities are consistent with investor protection and fair and efficient markets,” said the spokeswoman. Treasury, Alexandra LaManna, in a statement to Reuters.