Regulatory Outlook | 06.23.20
Clayton's Possible Departure from SEC Unlikely to Disrupt Reg BI
If SEC chair Jay Clayton departs the agency to become U.S. Attorney for the Southern District of New York, it probably won't have a significant impact on the regulatory agenda he leaves behind, say experts. Regulation Best Interest is not likely to be affected because of the institutional momentum behind the rule. The fate of rules surrounding unregistered securities, known as private placements, is less certain. Clayton would like to open private markets to more ordinary investors. It's not likely regulations in the pipeline will be upended, but if Clayton leaves his post, it could be harder for the remaining SEC members to address them.
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