SEC to brief lawmakers on Archegos meltdown
By John Prior
The Securities and Exchange Commission is scheduled to brief members of the House Financial Services Committee on Wednesday about the meltdown of Archegos Capital that has sent shockwaves through markets and the banking industry, according to a staffer of a panel member….“I expect Congress to let the banking agencies and SEC decide how best to address post-Archegos rewrites, although hearings will pressure the agencies for action that goes beyond tough enforcement to stiffer rules,” said Karen Petrou, managing partner of Federal Financial Analytics.