Former SEC Chair Gary Gensler expressed concerns about the Securities and Exchange Commission’s plan to prioritize President Trump’s push to end quarterly reports, suggesting the change could increase market volatility and reduce transparency. During an interview with CNBC, Gensler, who served between 2021 and 2025 with President Joe Biden’s administration, emphasized that quarterly reporting has been effective for 55 years…
Undeterred, Gensler is pushing ahead with the biggest regulatory blitz since the financial crisis, setting the stage for the latest in a long line of battles between Wall Street and its main regulator. The question now is whether he can see through his ambitious agenda in the face of an industry fightback, sceptical judges and the possibility of a new…
The tide was supposed to turn when Republicans gained control over the House last November. Finally, the thinking went, there would be restraints on the SEC chief. Yet after six months of hearings, initial plans and fiery statements about regulatory overreach, GOP lawmakers have yet to formally introduce their key proposals. The 2024 campaign season is about to kick into…
That FTX hadn’t registered with the SEC doesn’t let Mr. Gensler off the hook. For months he’s claimed to have authority over crypto and warned about self-dealing at their exchanges. Why didn’t he investigate the company? That would have given the SEC records of FTX’s sloppy bookkeeping and perhaps its alleged fraud. A charitable explanation is that he considered his…
You might think that Armstrong would be sending a thank-you note to Gensler for keeping him and his customers out of an incredibly risky business. Instead, Armstrong is leading a brigade that’s seeking, against all logic, to pin the blame for FTX on Gensler. The reasoning, which Armstrong laid out in a tweetstorm and a handful of media appearances, is…
The growing list of gripes about Gensler threatens to weigh on his political capital as he tries to finalize sweeping regulations opposed by industry, navigate upcoming House GOP investigations and secure his agency’s role in overseeing digital assets as Congress responds to crypto exchange FTX’s failure. “Gary Gensler might as well bring a cot because he’s going to be spending…
But the attacks on Gensler have been met with intense pushback from other industry observers who stress a different argument: The FTX crash actually proves that Gensler’s approach to crypto was correct. By embracing what the crypto industry denounced as unreasonable and rigid policies, Gensler actually minimized the harm the FTX meltdown had on U.S. consumers, they argue. John Reed…
SEC Chair Gary Gensler: They don’t just resemble securities, they are securities. Thurgood Marshall, a great Supreme Court Justice, wrote in an opinion – and I think it was in the 1970s – that the Congress painted with a broad brush to protect the public when somebody is raising money from the public and the public anticipates a profit. That’s…
“I’ve said to the industry, to the lending platforms, to the trading platforms, come in, talk to us. We do have robust authorities from Congress, also, to use our exemptive authority so that we can tailor investor protection,” Gensler said during a Yahoo Finance interview on Thursday. “Even tailoring what the disclosures might be, because maybe not all of the…
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 to undermine the protections we…