Regulatory Outlook | 07.22.20
SEC Nominee Crenshaw Vows to Hold Financial Firms Accountable for Mitigating Conflicts
Caroline Crenshaw, an SEC counsel nominated to fill a Democratic seat on the commission, said Tuesday that the regulator should help financial firms comply with Regulation Best Interest. But when firms fall short on compliance, the SEC must respond, Crenshaw said at a hearing of the Senate Banking Committee. Also appearing before the Senate committee, Hester Peirce, a current Republican member who has been re-nominated for a full term, said she wanted to address unfinished business if she is confirmed, including helping the agency shape policy toward digital currencies. The pairing of a Republican and Democrat increases the chances that both will be approved by the committee and then confirmed by the full Senate.
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