SEC Commissioner Luis Aguilar: Looking Back at the SEC’s Transformation

As he leaves the SEC, Commissioner Luis Aguilar shares his thoughts about what the SEC has and has not accomplished during his tenure. The entire post is well worth reading. Here, we share what he believes are the significant priorities going forward.

Finish the rulemakings mandated by Title VII of the Dodd-Frank Act.
Establish a better environment for the secondary trading of the securities of smaller issuers. This is an existing problem that is only going to get worse if left unattended. It is my hope that the IAC and EMSAC address this issue (and, in the case of the ACSEC, continue to address this issue) and provide recommendations to the Commission as to possible ways to enhance the liquidity of the secondary trading markets for smaller issuers.
Modernize the Transfer Agent regulatory regime. This is long overdue. It is my hope that the Commission will shortly take steps to address this issue by issuing a concept release that, among other things, seeks comment on concrete rules that the Commission could propose in the near term.
Enact effective Target Date Fund reforms that work for retail investors.
Finalize rules to amend Regulation D. (Admittedly, this is an effort that has proven difficult to bring to fruition.)
Finish the work on a fiduciary standard for those broker-dealers that provide personalized investment advice. (While this is an issue that was substantially discussed before I even got to the Commission, it remains unresolved.)

via Looking Back at the SEC’s Transformation.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s