Statement on Commissioner Michael S. Piwowar

Today, Commissioner Piwowar announced his plans to leave the agency following the official end of his term. During the past five years as Commissioner, and in his prior tenure at the SEC as an economist, Mike has worked tirelessly in support of the agency’s mission. I am grateful for his leadership, including during his tenure as Chairman, during which he advanced a number of important initiatives in times that saw significant developments in our markets. I am particularly grateful to Mike for emphasizing the importance of economic analysis in the agency’s efforts, and for raising the level of involvement and rigor of the Commission’s analysis in matters ranging from rulemaking to enforcement. Mike’s long-lasting commitment to public service has made a difference for our markets and Main Street investors.