U.S. Treasury Secretary Janet Yellen has reportedly called on financial regulators to discuss recent financial market instability.
According to Reuters, Yellen is said to be summoning the head of the Securities and Exchange Commission (SEC), the US Federal Reserve (Fed), the New York Fed and the Commodity Futures Trading Commission (CFTC).
He was also reported to have sought permission from an ethics lawyer to hold the meeting, according to documents seen by Reuters.
Treasury officials, who declined to be named, said the meeting would be held this week and possibly as early as Wednesday.
Meanwhile, in a statement by Treasury spokeswoman Alexandra LaManna said that Yellen believes market integrity is important and has called for discussions on financial market instability and whether recent activities are in line with investor protection as well as fair and efficient markets.
Yellen's actions came after a few days of turmoil in the stock market due to a pact among retail investors to buy Gamestop shares and caused the hedge fund company to lose billions of dollars.
Retail trading activity has also surpassed silver prices to the latest price highs since April last year at the beginning of the week.
