Earlier this month, former S.E.C Chairman Arthur Levitt published an Op-Ed piece in The New York Times, entitled “Don’t Gut the S.E.C.” Mr. Levitt sees only two approaches to regulatory reform when it comes to his former agency: on the one hand, retaining the status quo, or, on the other hand, in his words, “gutting” or “eviscerating” the agency. We are saddened that his debate about regulatory reform has become one more example of a black and white view of governmental reform. In reality, we agree with Mr. Levitt on what is clearly the most important point: the clear need for an effective S.E.C. We strongly disagree; however, that the S.E.C. is somehow exempt from the basic need to adapt to changing times, or that more of the same is the right answer.
‘Enforcement 40’ for 2020
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