SEC Practitioners-- this is worth a read or two. Warning, it is powerful.?Commissioner Peirce’s remarks at last week’s SEC’s 90th Anniversary event:?“How can the SEC exhibit similar vivacity at ninety? We can stop fearing market dynamics, competition, technology, and innovation. We can be as willing to acknowledge regulatory failures as we are to identify market failures. We can stick to our statutory mandates: protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation. We can resist the temptation to regulate outside our statutory boundaries. We can treasure our staff of dedicated, hard-working, specialized, and knowledgeable public servants by empowering them to think through difficult legal questions about the application of securities laws to new circumstances. We can stop using our very important enforcement tool as a substitute for considered regulation. We can savor the wonder of the capital markets’ power to transform people’s lives and build a prosperous economy. We can recommit ourselves to good administrative process in our rulemakings, our exams, and our enforcement actions. We can frequently, seriously, and diligently seek input from investors, industry, and other interested parties. We can embrace a culture of humility, intellectual curiosity, and respect for divergent views. We can remember how immensely privileged we are to serve the American people." I am starting a new Linkedin group called SEC in Practice. Through ongoing posts, discussion forums and other means we hope to create a community of SEC practitioners who enjoy discussing and educating one another about SEC practice. Feel free to join. https://lnkd.in/gvqEr2PY???
