Members of Congress quiz SEC Chairman Clayton on agency initiatives

By Amanda Maine, J.D. The declining number of IPOs in the U.S. and the SEC’s recently proposed Regulation Best Interest for broker-dealers were hot topics of discussion during a hearing of the House Financial Services Committee with SEC Chairman Jay Clayton as its star witness. However, the chairman answered questions on a number of topics during the two-and-a-half hour meeting, including revisiting the proxy process, the rise and challenge of addressing issues related to cryptocurrencies and initial coin offerings, and the modernization of the market. Concerns about capital formation. In his opening statement, committee Chairman Jeb Hensarling (R-Tex) said that one aspect of the SEC’s mission—promoting capital formation—has received short shrift. Even though the economy is doing well now, initial public offerings have been on a gradual slide downward and, in 2016, entrepreneurship had reached a 30-year low. He also voiced concern about the ability of…

Read more detail on Recent Banking and Finance Law posts –

This entry was posted in Banking and Finance law and tagged , , , , , , . Bookmark the permalink.

Leave a Reply