“We are concerned that Commissioner Piwowar’s actions may lack adequate justification, undermine the SEC’s mission, exceed his authority as Acting Chairman, violate other procedural requirements, and could potentially prove to be a waste of the SEC staff’s precious time and resources,” said a March 29 letter from Democratic Sens. Sherrod Brown (Ohio), Elizabeth Warren (Mass.), Robert Menendez (N.J.) and Brian Schatz (Hawaii) to SEC Inspector General Carl W. Hoecker.
The move foreshadows possible pushback from congressional Democrats if President Donald Trump’s nominee to lead the SEC continues course on the enforcement regime or scaling back Dodd-Frank rules.
‘Enforcement 40’ for 2020
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