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U.S. SEC chief says new rules needed as tech drives trading -CNBC

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WASHINGTON, May 7 (Reuters) - New investment rules are needed to help protect investors as social media, apps and other technology impact trading and financial markets, the head of the U.S. Securities and Exchange Commission (SEC) said on Friday.

Gary Gensler, who took over as the regulator’s chairman last month, said that while investors can take risks more protections are needed amid the rise in crypto tokens and fierce stock rallies driven by online posts.

Reporting by Susan Heavey; Editing by Lisa Lambert

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