A new presidential administration and the change of party affiliation in the White House portend a shift in leadership at the Securities and Exchange Commission—and careful consideration as to what new tone, direction, and priorities the SEC’s Division of Enforcement will take in 2021 and beyond can help you reduce compliance risk.
The first big change will come with replacing current SEC Chairman Jay Clayton, who will step down at the end of 2020. Because the agency’s direction is driven in no small part by the chair, motivations and initiatives can change dramatically with any new administration. “Selection of the new SEC chair, whether from inside the agency or outside, will signal much in terms of the likely approach,” says Ashley Ebersole, a partner at law firm Bryan Cave Leighton Paisner and a former SEC attorney.
