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SEC’s Piwowar cleared of overstepping bounds with rule re-proposals

Joe Mont | September 6, 2017

A review of actions taken by Commissioner Michael Piwowar, while serving as acting chairman of the Securities and Exchange Commission, concluded that no laws governing the Commission were violated.

“Our review identified no evidence that his actions could either undermine the SEC’s mission or potentially prove to be a waste of SEC staff time and resources,” says a letter from SEC Inspector General Carl Hoecker to Senate Democrats, who requested the investigation, says.

Piwowar was first appointed to the SEC by President Barack Obama and was sworn in on August 15, 2013. He was designated Acting Chairman of the SEC by President Trump from Jan. 23, 2017, to May 4, 2017, when the Senate confirmed Jay Clayton as the next Chairman of the SEC.  During his tenure, he advanced a reconsideration of rules related to ... To get the full story, subscribe now.