Outgoing Federal Reserve Chairman Janet Yellen holds a press conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, US, December 13, 2017.
Jonathan Ernst | Reuters
US 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 the 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 requested permission from ethics lawyers to do this, according to document seen by Reuters.
Yellen’s decision to request the waiver follows a report from Reuters that she was paid for speaking fees by a key player in the GameStop saga, hedge fund Citadel, and that she may need to request an ethics clearance.
The Treasury Secretary, who declined to be named, said the meeting would take place this week and possibly as early as Wednesday.
Secretary Yellen believes the integrity of markets is important and has called for a discussion of recent volatility in financial markets and whether recent activities are consistent with investor protection and fair and efficient markets, said Treasury spokeswoman , Alexandra LaManna, in a statement to Reuters.