You’ve heard of “lawyering up?” Well, we’re coining a new phrase today: “Lawyering down.” That is what the SEC appears to be trying hard to achieve as it recreates itself under Mary Schapiro.
In his remarks today before the Mutual Fund Directors Forum Ninth Annual Policy Conference, SEC Commissioner Troy A. Paredes deviated from his discussion of industry topics to deliver the latest in a series of not-so-subtle hints from the SEC that it has plenty of lawyers onboard now, thank you very much, and it would like to diversify with people from other disciplines and industries. Commissioner Paredes went so far as to say that the SEC was “ill-advised” to be “so dominated by lawyers:”
