All SEC Commissioners articles

  • Blog

    'Hold' everything: SEC may be stuck at three commissioners for a while


    Instead of trying to come up with new ways to repeatedly express public “disappointment” in the SEC, says enforcement blogger Bruce Carton, perhaps the U.S. Senate could simply do its own job and vote on the two nominees that President Obama nominated back in October 2015. Carton explores reasons behind ...

  • Blog

    Sen. Warren, Chair White and the circle of disappointment


    At a hearing this week, Sen. Elizabeth Warren tried to hang her "disappointment" on SEC Chair Mary Jo White for the third time in 12 months. This time, to Sen. Warren's surprise, Chair White was ready to fight disappointment with disappointment.

  • Blog

    ‘Routine’ vote to finally approve two SEC commissioner nominees blocked


    Image: The struggle to add two commissioners to the SEC drags on, leaving SEC Chair Mary Jo White (left) and two other SEC commissioners to do the work of what is supposed to be a five-member commission. The most recent development in this saga came yesterday, when a supposedly “routine” ...

  • Blog

    Advocacy Group Rolls Out 'Dump (Mary Jo) Truck' on D.C. Streets


    What stunts are even left for the next disgruntled advocacy group to pursue? Skywriters? Taking over the television airwaves to deliver a message like the Joker in Batman? Falconers? Stay tuned!

  • Blog

    Gallagher Out: SEC Commissioner Sets Departure Deadline of Oct. 2


    Nearly four months after SEC Commissioner Daniel Gallagher announced his intention to depart the SEC, no successor has been nominated by the White House. Today, Commissioner Gallagher issued a short statement indicating that his offer to stay on as a commissioner now has an expiration date: Friday, October 2, 2015.

  • Blog

    Outgoing SEC Commissioner Gallagher Takes One Last Shot at Dodd-Frank


    In what was likely his last formal speech as an SEC commissioner, Commissioner Dan Gallagher invoked into his inner Stuart Smalley to take aim one last time at his favorite target, the Dodd-Frank Act.

  • Blog

    SEC Chair White Responds to Sen. Warren’s ‘Disappointment’


    In response to a lengthy list of grievances laid out by Sen. Elizabeth Warren in early June 2015, SEC Chair Mary Jo White has answered the Senator’s complaints. Specifically, White explained her recusals from certain cases (she had been granted permission to be recused from certain cases for two years), ...

  • Blog

    Sen. Warren and 'Liberal Allies' Derail Planned SEC Nomination


    Sen. Elizabeth Warren and activist groups with which she is aligned have reportedly derailed President Obama's plan to nominate a corporate lawyer for a soon-to-be open Democratic seat on the Commission.

  • Blog

    SEC Commissioners Want New Rules for Transfer Agents


    In an increasingly rare display of unity among members of the Securities and Exchange Commission, they say that the Commission needs to dust off decades-old rules for transfer agents. New requirements could include requiring agents to be appropriately insured, properly disclosing conflicts of interest; and being subjected to more robust ...

  • Blog

    SEC's Pinterest Page Highlights Achievements of Women SEC Officials


    The SEC has found another interesting use for its "Pinterest" page. It recently created a Women's History Month board on the popular social media site to help gather information and photos, and celebrate the achievements of many of the most influential women employees in in its history.

  • Blog

    Sen. Warren is Triply 'Disappointed' in SEC Chair White


    Sen. Elizabeth Warren would like SEC Chair Mary Jo White to know that Sen. Warren is disappointed in her. In a 13-page letter this week, Sen. Warren expressed this very sentiment repeatedly, prompting Chair White and others to defend her leadership of the agency and its accomplishments.

  • Blog

    SEC Commissioners Gallagher and Aguilar Prepare to Depart Agency


    SEC Commissioner Daniel Gallagher has notified the White House that he will be departing the agency as soon as his successor is confirmed by the Senate. With fellow SEC Commissioner Luis Aguilar also leaving the agency soon, the search for potential successors is reportedly underway.

  • Blog

    Despite LIBOR Manipulation, SEC Grants Deutsche Bank Waiver


    Image: The SEC has decided not to let an admission of LIBOR manipulation result in the loss of Deutsche Bank’s well-known seasoned issuer status. “It is safe to assume that these waiver requests will continue to roll in, as issuers are now emboldened by an unofficial Commission policy to overlook ...

  • Blog

    SEC Revisits Cross-Border Swap Rules


    The Securities and Exchange Commission is seeking to better define the requirements for security-based swap transactions that involve a foreign entity’s activity in the United States. A new proposed rule addresses what to do when only certain activities involving a security-based swap transaction occur within the United States. More inside.

  • Blog

    Congress Grills SEC on Budget Request


    Image: SEC Chair Mary Jo White was in the hot seat Tuesday during during a hearing before the House Committee on Financial Services. Republicans scrutinized her $1.7 billion budget request, while Democrats blasted the Commission’s “bad actor” waiver process and a decision not to require political spending disclosures.

  • Blog

    SEC Details Its Criteria for ‘Bad Actor’ Waivers


    Amid a fierce debate among commissioners, the SEC’s Division of Corporation Finance has issued guidance on how and when waivers will be granted for companies that face disqualification from registration exemptions when raising capital. Determinations will include whether the misconduct was isolated, company leadership was involved, and training and remediation ...

  • Blog

    SEC Chairman Weighs in on Waiver Dispute


    Image: For more than a year, the SEC has been divided over the use of waivers that allow firms to engage in capital-raising activities despite an enforcement action. For the first time, SEC Chairman Mary Jo White has entered the fray. Waivers should not be wielded as an enforcement tool, ...

  • Blog

    New Guidance on SEC Waivers, Exemptions in the Works


    Companies seeking waivers that allow them to retain exemptive relief despite an enforcement action may soon get fresh guidance from the Securities and Exchange Commission on how that increasingly contentious process will work in the future. Speaking at a conference in Washington D.C., Elizabeth Murphy, an associate director for ...

  • Blog

    SEC Commissioners Vent on Administrative Proceedings, Disclosures


    Speaking recently at the Practicing Law Foundation’s “SEC Speaks” forum, various SEC commissioners detailed their priorities for 2015. Hot topics included the Commission’s reliance on in-house administrative proceedings, a disclosure regime that hasn’t kept pace with technological advancements, and the challenge of creating a more diverse workforce at the Commission.

  • Blog

    SEC Commissioners Irate Over Comment Letter Glitch


    SEC Commissioners Daniel Gallagher and Michael Piwowar fired off a testy complaint Wednesday about “a significant failure” of the SEC’s rulemaking process, complaining that SEC staff missed “an extensive comment letter” opposing a recently adopted rule on swaps trading. The oversight should force a reopening of the comment period, they ...