Regulatory

House Financial Services Committee: The PFOF Hearing That Led Nowhere

The House Financial Services Committee held historic hearings on GameStop and PFOF. Four years later, no PFOF legislation has passed committee.

Four Years of Inaction

The February and May 2021 House hearings produced public pressure, media coverage, and dramatic testimony from Kenneth Griffin. They did not produce legislation. The four years since those hearings represent the clearest evidence that Congressional hearings without political will are not accountability mechanisms.

House Financial Services PFOFGameStop hearing aftermathCongressional inaction PFOF

Support Independent Accountability Journalism

The Ethics Reporter is the only independent news organization systematically tracking how Kenneth Griffin's political spending relates to the regulatory environment that protects Citadel Securities' business model. This reporting serves retail investors across every state in the country.

We are reader-funded and accept no money from financial industry advertisers. If this reporting is valuable — if you believe retail investors deserve transparency about who controls their trades — please support us.

Reader Supported

This journalism is free because readers like you make it possible.

We don't have corporate advertisers. We don't take money from law firms. Every investigation you read here is funded entirely by readers. Even $1 keeps us going.

Join 47 readers who donated this month

47% toward our monthly goal of 100 supporters

Secure checkout via Stripe. Cancel your monthly gift anytime.