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Chair Gensler Marks 2nd Year at SEC

April 18, 2023

On April 17, 2023, Chair Gary Gensler marked his second year serving as Chair of the U.S. Securities and Exchange Commission. Over the last two years, the SEC has filed 1,500 enforcement actions and overseen tens of thousands of registrants. The SEC proposed rules to make our markets more efficient, competitive, transparent, resilient—and worthy of the public’s trust.

  • [+]Transcript

    I can't believe I've had the privilege to be part of the Securities and Exchange Commission for two years. At this remarkable agency, we serve investors building for a better future and issuers raising money while overseeing the hundred trillion dollar capital markets that allow them to meet. And why do capital markets matter? It's because investors and companies, large and small, use them every day.

    Every time you invest in a 401(k), trade through a brokerage app, take out a mortgage or auto loan, you place your trust in our capital markets. For 90 years, our capital markets with the benefits of securities regulation have been the finest in the world. At the SEC, we're working for you to keep it that way.

    First, we serve as a cop on the beat, stamping out misconduct and making markets fairer. In the last two years alone, we filed 1,500 enforcement actions that includes actions against Ponzi schemes and pump-and-dumps, insider trading, misleading disclosures and, yes, rampant noncompliance in the crypto markets.

    Second, in overseeing the markets, we engage with over 40,000 registrants: asset managers, brokers, dealers, exchanges, fund companies, public companies raising money from you and many more. When investors have fair access to markets and full, fair, and truthful disclosure from those raising money, that builds trust in our financial system.

    We cannot simply rely on the rules of the past to face the market challenges of today. Technology and new business models are dramatically transforming our markets. Thus, we're working to update rules to best meet our times. We're seeking to make our markets more efficient and competitive. That means better returns for you and lower costs for issuers. We've made proposals to do so in the stock market and the ever-growing private funds market.

    Further, we're working to strengthen market integrity and transparency. We recently adopted rules to guard against insider trading and to claw back executive compensation when based on faulty financials.

    We're also striving to make our markets more resilient. Lest we forget, risk in one corner of the market can spill out and hurt regular folks. The market events of the last month are just the most recent reminder of this. So we're working on multiple projects in the Treasury markets, in money market funds, and in cybersecurity to better protect you from future financial instabilities.

    I am so honored to be part of the SEC's remarkable team. Here at the SEC, I'm proud that we have the investing and issuing public's back.

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