Veteran trader Peter Brandt slams SEC chairman Gary Gensler for failing to protect US investors despite heading two top financial regulatory agencies. The CEO of Factor LLC and veteran trader Peter Brandt has slammed the chairman of the SEC, Gary Gensler, over his recent tweet. I...
Veteran trader Peter Brandt slams SEC chairman Gary Gensler for failing to protect US investors despite heading two top financial regulatory agencies.
The CEO of Factor LLC and veteran trader Peter Brandt has slammed the chairman of the SEC, Gary Gensler, over his recent tweet.
In a July 25 tweet, Gensler said the SEC is considering adopting rules to enhance public companies’ disclosure regarding cybersecurity risks management, governance, and incidents.
Notably, Gensler also attached a short video clip of him telling US investors about the SEC’s obligations towards public companies’ disclosure.
Brandt Highlights Gensler’s Failed History At Protecting Investors
Three days after the tweet, Brandt slammed Gensler over his assertions in the video. The veteran trader described the SEC boss as a “power-hungry bald man” with a history of failing to protect US investors.
Brandt recounted losing money after three commodity brokers (FCMs) went bankrupt due to fraudulent activities. Brandt said the incident occurred when Gensler was the Commodity Futures Trading Commission (CFTC) chairman.
Notably, REFCO, MF Global, and Peregrine Financial Group were among the commodity brokers that collapsed when Gensler was the CFTC chair.
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