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Join the Securities Litigation and Enforcement Group on LinkedInCrypto Legislation Could Undermine Market Regulations, Gensler Says – WSJ
Asked about a bill introduced last week by Sens. Cynthia Lummis (R., Wyo.) and Kirsten Gillibrand (D., N.Y.), Mr. Gensler initially demurred, saying he would prefer to discuss the proposed legislation with the senators. But he then suggested that legislative changes targeting cryptocurrencies could have implications for stock exchanges or mutual funds. “We don’t want […]
SEC Chief Wants Advisors, BDs to Improve ‘Cyber Hygiene’ | ThinkAdvisor
Securities and Exchange Commission Chairman Gary Gensler said Monday that he wants advisors and broker-dealers to improve their “cyber hygiene” as well as their data privacy disclosures. Investment companies, investment advisors and broker-dealers, which are not covered by the SEC’s Regulation Systems Compliance and Integrity, or Reg SCI, must “comply with various rules that may […]
Where Are the (Crypto) Lawyers? | LinkedIn
It’s Déjà vu all over again at the SEC. At the 2021 SEC Enforcement Forum, Chair Gary Gensler of the U.S. Securities and Exchange Commission (SEC), seized the opportunity to admonish the rising crop of self-anointed fintech lawyers who too often advise their clients on how to circumvent U.S. securities laws — as opposed to […]
SEC Chair Warns of Enforcement “Without Quarter” | Cadwalader Cabinet
In remarks before the Securities Enforcement Forum, SEC Chair Gary Gensler echoed first SEC Chair Joseph Kennedy’s assertion that the SEC “will make war without quarter on any who sell securities by fraud or misrepresentation.” Mr. Gensler outlined several principles that he shared with the Division of Enforcement to guide its assessments of misconduct under […]
SEC Chair Gary Gensler: Prepared Remarks At the Securities Enforcement Forum
Before I close, I’d like to address the audience directly — those of you who are lawyers, auditors, accountants, bankers, and investment advisers. You all play an important role in our capital markets. Market participants rely on you for advice and counsel on a daily basis. Within our securities laws, you are entrusted with certain […]
Gensler: SEC Will Pursue Misconduct Everywhere Including Matters That Don’t Make Headlines
Speaking to the Securities Enforcement Forum Gensler told the corporate executives in the audience: “If you’re asking a lawyer, accountant, or adviser if something is over the line, maybe it’s time to step back from the line.” He told the lawyers, auditors, accountants, bankers, and investment advisers in attendance they can often be the first […]
Gary Gensler has a full agenda as he gets set to take over the SEC
With Democrats in control of all three major branches of government, and the SEC commissioners now with a 3-2 Democratic majority, Gensler is likely to face calls from progressives to act on several fronts, including ESG, the GameStop fallout, the Archegos fiasco, payment-for-order flow, fiduciary obligations, and especially regulations around securities in the crypto space, […]