U.S. regulators to scrutinize role of social media in securities trading

04/29/2013 | New York Times (tiered subscription model), The

The recent infiltration by hackers of The Associated Press' Twitter account -- which caused a brief but worrisome dip in U.S. stock indices last week -- is causing federal regulators to take a second look at the power of social media to move markets in an era dominated by high-frequency computerized trading. The Commodity Futures Trading Commission will hold a public meeting Tuesday to discuss the issue and consider whether heightened scrutiny and possibly new regulations are required. "To think it was all lost because of this hack attack is very disconcerting," said Bart Chilton, a member of the commission. "We would be irresponsible if we turned a blind eye to these debacles."

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