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SEC chairman weighs in on role of guidance

Joe Mont | September 13, 2018

Reacting, in part, to a recent statement by banking regulators regarding the role of guidance in their regulatory regimes, Securities and Exchange Commission Chairman Jay Clayton has clarified his own views on the topic.

When promulgating rules and regulations, the Commission’s staff frequently make their views known through a variety of communications, including written statements, compliance guides, letters, speeches, responses to frequently asked questions and responses to specific requests for assistance, Clayton explained. 

“The staff often addresses specific questions from particular SEC-regulated institutions or other stakeholders about Commission rules or regulations and how those rules or regulations may apply to a particular entity’s specific facts...

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