If you regularly read speeches given by SEC Commissioners and staff, you may have noticed a change in the standard opening. For most of my career, the remarks always began with something to this effect:
“Before I begin, I must give the customary disclaimer that the views I express today are my own and do not necessarily reflect the views of my fellow commissioners or the staff.”
But something has changed. Chair Gensler gave the disclaimer this way on May 10, 2023 in remarks to the Municipal Securities Disclosure Conference:
“My views are my own as Chair of the SEC, and I am not speaking on behalf of my fellow Commissioners or the staff (emphasis added).”
The changed language likely results from discovery disputes in SEC vs. Ripple Labs….
Source: SEC Changes Introductory Disclaimer – Likely In Response to Discovery Dispute