SEC Commissioner Paredes Calls for Less Lawyers, Deeper Understanding of Markets at Agency

SECheadquarters230SEC Commissioner Troy Paredes is the latest agency official to state that the SEC’s current domination by lawyers is “ill-advised.” Reuters reports that in a speech to the Securities Industry and Financial Markets Association, Paredes said that the SEC has a shortage of non-lawyers who understand increasingly complex financial markets and needs to hire more economists and quantitative analysts.

Paredes believes that the SEC needs more staff with “a deep understanding of financial markets.”  Paredes joined the SEC in August 2008.

Read the Reuters article.